Peddock Capital Advisors LLC Increases Position in International Business Machines Co. (NYSE:IBM)

Peddock Capital Advisors LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,326 shares of the technology company’s stock after buying an additional 86 shares during the quarter. Peddock Capital Advisors LLC’s holdings in International Business Machines were worth $2,270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC purchased a new stake in shares of International Business Machines in the 3rd quarter worth $29,000. Avondale Wealth Management grew its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the second quarter valued at $36,000. Finally, Modus Advisors LLC purchased a new stake in International Business Machines in the fourth quarter worth about $40,000. 58.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BMO Capital Markets raised their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Bank of America boosted their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their price objective on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Finally, Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $214.88.

International Business Machines Stock Performance

IBM traded down $2.36 during trading on Monday, reaching $217.39. 3,709,705 shares of the company’s stock were exchanged, compared to its average volume of 3,206,479. The company’s fifty day simple moving average is $221.92 and its 200-day simple moving average is $209.52. The stock has a market capitalization of $201.01 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. As a group, research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. International Business Machines’s dividend payout ratio is presently 97.23%.

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.