Integrity Wealth Advisors Inc. Invests $1.83 Million in International Business Machines Co. (NYSE:IBM)

Integrity Wealth Advisors Inc. acquired a new stake in International Business Machines Co. (NYSE:IBM) in the fourth quarter, Holdings Channel.com reports. The fund acquired 8,333 shares of the technology company’s stock, valued at approximately $1,832,000. International Business Machines makes up approximately 1.3% of Integrity Wealth Advisors Inc.’s portfolio, making the stock its 13th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Treasurer of the State of North Carolina raised its holdings in shares of 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 valued at $108,942,000 after purchasing an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines during the 4th quarter worth about $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines during the fourth quarter worth approximately $373,000. Finally, Truist Financial Corp boosted its holdings in International Business Machines by 6.5% in 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 in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.6 %

Shares of IBM stock opened at $239.15 on Tuesday. 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. The business’s fifty day moving average price is $248.67 and its 200 day moving average price is $233.14. The firm has a market capitalization of $221.76 billion, a PE ratio of 37.31, a P/E/G ratio of 5.81 and a beta of 0.67.

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

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. Wedbush assumed coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. UBS Group lifted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. BMO Capital Markets upped their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $232.75.

Insider Buying and Selling

In related 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 sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

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.