Kiker Wealth Management LLC Takes $638,000 Position in International Business Machines Co. (NYSE:IBM)

Kiker Wealth Management LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,901 shares of the technology company’s stock, valued at approximately $638,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBM. United Bank lifted its stake in shares of International Business Machines by 53.3% in the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 1,956 shares in the last quarter. Quest Partners LLC boosted its holdings in International Business Machines by 23,700.0% in the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after purchasing an additional 237 shares during the period. Meeder Asset Management Inc. grew its position in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares during the last quarter. Prospera Private Wealth LLC bought a new position in International Business Machines during the 3rd quarter worth $553,000. Finally, Jennison Associates LLC boosted its stake in International Business Machines by 11.5% during the 3rd quarter. Jennison Associates LLC now owns 522,131 shares of the technology company’s stock valued at $115,433,000 after purchasing an additional 53,658 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

International Business Machines Trading Down 3.5 %

IBM stock opened at $243.42 on Friday. The company’s 50-day simple moving average is $246.29 and its 200 day simple moving average is $229.42. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The company has a market capitalization of $225.71 billion, a PE ratio of 37.98, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Jefferies Financial Group increased their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Finally, Bank of America boosted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Company 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.