Accredited Wealth Management LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Accredited Wealth Management LLC purchased a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 366 shares of the technology company’s stock, valued at approximately $81,000.

A number of other hedge funds also recently bought and sold shares of the business. Treasurer of the State of North Carolina increased its holdings in International Business Machines by 0.8% in 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 acquiring an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in International Business Machines in the 4th quarter worth about $373,000. Finally, Truist Financial Corp increased its stake in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after buying an additional 49,591 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 2.4 %

International Business Machines stock opened at $245.49 on Friday. 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 firm has a 50 day moving average price of $243.19 and a 200 day moving average price of $234.15. International Business Machines Co. has a fifty-two week low of $163.53 and a fifty-two week high of $266.45. The company has a market capitalization of $228.16 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 EPS. Research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.74%. International Business Machines’s dividend payout ratio is 115.66%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of International Business Machines in a report on Thursday, April 24th. 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. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, Morgan Stanley cut their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $248.50.

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.