Wedbush Securities Inc. Buys 4,934 Shares of International Business Machines Co. (NYSE:IBM)

Wedbush Securities Inc. increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 9.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 58,791 shares of the technology company’s stock after purchasing an additional 4,934 shares during the quarter. Wedbush Securities Inc.’s holdings in International Business Machines were worth $12,924,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IBM. Envestnet Asset Management Inc. boosted its holdings in shares of International Business Machines by 0.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,361,646 shares of the technology company’s stock worth $299,331,000 after purchasing an additional 3,573 shares during the period. Perennial Investment Advisors LLC raised its position in International Business Machines by 5.2% during the 4th quarter. Perennial Investment Advisors LLC now owns 5,056 shares of the technology company’s stock valued at $1,111,000 after purchasing an additional 250 shares during the last quarter. Aviva PLC lifted its holdings in International Business Machines by 6.8% in the 4th quarter. Aviva PLC now owns 554,867 shares of the technology company’s stock worth $121,976,000 after buying an additional 35,218 shares during the period. Oarsman Capital Inc. grew its position in shares of International Business Machines by 5.6% in the 4th quarter. Oarsman Capital Inc. now owns 10,455 shares of the technology company’s stock worth $2,298,000 after buying an additional 556 shares during the last quarter. Finally, KCM Investment Advisors LLC increased its stake in shares of International Business Machines by 2.2% during the fourth quarter. KCM Investment Advisors LLC now owns 8,916 shares of the technology company’s stock valued at $1,960,000 after buying an additional 189 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $227.31 on Friday. The stock has a market cap of $210.78 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 5.81 and a beta of 0.67. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The firm’s 50-day moving average is $251.46 and its 200 day moving average is $232.41.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research analyst reports. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Bank of America increased their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Wedbush initiated coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group reduced their target price on International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $231.13.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.