Principle Wealth Partners LLC Boosts Stake in International Business Machines Co. (NYSE:IBM)

Principle Wealth Partners LLC boosted its stake in International Business Machines Co. (NYSE:IBM) by 1.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 56,727 shares of the technology company’s stock after acquiring an additional 733 shares during the period. Principle Wealth Partners LLC’s holdings in International Business Machines were worth $9,278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Naples Money Management LLC purchased a new position in shares of International Business Machines during the 4th quarter worth $28,000. Briaud Financial Planning Inc purchased a new position in shares of International Business Machines in the 3rd quarter worth $31,000. Stone House Investment Management LLC raised its position in shares of International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares during the period. Financial Gravity Asset Management Inc. raised its position in shares of International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 91 shares during the period. Finally, Cordant Inc. raised its position in shares of International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after buying an additional 226 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.1 %

Shares of IBM stock traded down $1.78 during trading hours on Friday, hitting $167.13. 8,983,796 shares of the company were exchanged, compared to its average volume of 3,906,041. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.93 and a current ratio of 1.13. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The business’s 50-day simple moving average is $187.60 and its two-hundred day simple moving average is $170.34. The stock has a market capitalization of $153.21 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 3.30 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter last year, the company posted $1.36 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts predict that International Business Machines Co. will post 9.99 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. International Business Machines’s payout ratio is 75.20%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IBM shares. Royal Bank of Canada increased their target price on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Morgan Stanley lowered their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. lowered their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $184.08.

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.