Pacific Capital Wealth Advisors Inc. Acquires Shares of 866 International Business Machines Co. (NYSE:IBM)

Pacific Capital Wealth Advisors Inc. acquired a new stake in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 866 shares of the technology company’s stock, valued at approximately $142,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Naples Money Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $28,000. Briaud Financial Planning Inc acquired a new stake in shares of International Business Machines in the third quarter valued at about $31,000. Stone House Investment Management LLC grew its position in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the period. Financial Gravity Asset Management Inc. grew its position in shares of International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares during the period. Finally, Cordant Inc. grew its position in shares of International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. Sanford C. Bernstein boosted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Morgan Stanley lowered their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Wedbush boosted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Jefferies Financial Group lowered their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $181.29.

International Business Machines Trading Up 0.9 %

Shares of International Business Machines stock traded up $1.52 on Wednesday, reaching $169.90. The company had a trading volume of 3,473,794 shares, compared to its average volume of 4,933,335. The firm’s 50 day moving average price is $185.11 and its two-hundred day moving average price is $171.88. The firm has a market cap of $156.07 billion, a PE ratio of 19.24, a PEG ratio of 4.08 and a beta of 0.74. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Sell-side analysts predict that International Business Machines Co. will post 9.92 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.93%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. International Business Machines’s payout ratio is 75.20%.

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.