1,942 Shares in International Business Machines Co. (NYSE:IBM) Acquired by Broadway Wealth Solutions Inc.

Broadway Wealth Solutions Inc. acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, Holdings Channel reports. The firm acquired 1,942 shares of the technology company’s stock, valued at approximately $427,000.

Several other hedge funds have also added to or reduced their stakes in IBM. Vanguard Group Inc. lifted its position in International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares in the last quarter. State Street Corp raised its stake in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of International Business Machines by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after purchasing an additional 126,547 shares in the last quarter. Norges Bank purchased a new stake in shares of International Business Machines during the fourth quarter valued at $1,236,176,000. Finally, FMR LLC increased its holdings in International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after buying an additional 294,276 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

International Business Machines Stock Performance

International Business Machines stock opened at $246.30 on Friday. The firm has a market capitalization of $228.38 billion, a P/E ratio of 38.42, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company’s 50-day moving average is $249.12 and its 200 day moving average is $231.01. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. 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 (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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%. Research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Sanford C. Bernstein upped their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Oppenheimer started coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $231.44.

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.