Private Advisor Group LLC Buys 122,600 Shares of International Business Machines Co. (NYSE:IBM)

Private Advisor Group LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 73.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 288,856 shares of the technology company’s stock after purchasing an additional 122,600 shares during the period. Private Advisor Group LLC’s holdings in International Business Machines were worth $63,499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its stake in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in International Business Machines during the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines during the fourth quarter valued at approximately $373,000. Finally, Philip James Wealth Mangement LLC purchased a new stake in International Business Machines during the third quarter valued at approximately $5,117,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.6 %

Shares of International Business Machines stock opened at $262.85 on Wednesday. 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 firm has a fifty day moving average price of $233.32 and a 200 day moving average price of $220.66. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The stock has a market cap of $243.04 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 5.73 and a beta of 0.76.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities research analysts predict that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. BMO Capital Markets increased their target price on shares of 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. Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Finally, Jefferies Financial Group raised their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $231.44.

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.