4,125 Shares in International Business Machines Co. (NYSE:IBM) Bought by Petros Family Wealth LLC

Petros Family Wealth LLC acquired a new stake in International Business Machines Co. (NYSE:IBM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,125 shares of the technology company’s stock, valued at approximately $907,000. International Business Machines accounts for 1.0% of Petros Family Wealth LLC’s investment portfolio, making the stock its 25th largest position.

Other large investors have also recently made changes to their positions in the company. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines during the fourth quarter worth about $242,000. Treasurer of the State of North Carolina increased its stake in shares of International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in International Business Machines in the fourth quarter valued at approximately $373,000. Finally, Truist Financial Corp grew its holdings in International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 2.6 %

Shares of IBM stock opened at $235.49 on Friday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The business’s fifty day moving average is $249.14 and its 200 day moving average is $232.95. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market capitalization of $218.37 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last released 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 return on equity of 38.99% and a net margin of 9.60%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.84%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBM. Wedbush started coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Oppenheimer began coverage on 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. Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $231.13.

International Business Machines Profile

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.