Perigon Wealth Management LLC Acquires 1,213 Shares of International Business Machines Co. (NYSE:IBM)

Perigon Wealth Management LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,960 shares of the technology company’s stock after acquiring an additional 1,213 shares during the quarter. Perigon Wealth Management LLC’s holdings in International Business Machines were worth $4,890,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its holdings in International Business Machines by 40.9% in 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 during the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $1,940,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines in the 3rd quarter valued at approximately $5,117,000. Nordea Investment Management AB boosted its stake in International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares during the last quarter. Finally, M.E. Allison & CO. Inc. acquired a new position in International Business Machines during the fourth quarter valued at approximately $1,034,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Bank of America lifted their price objective on International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $220.40.

International Business Machines Stock Performance

IBM opened at $225.34 on Wednesday. The business’s 50-day simple moving average is $224.65 and its 200 day simple moving average is $213.14. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market capitalization of $208.36 billion, a PE ratio of 32.80, a PEG ratio of 4.78 and a beta of 0.74.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.

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.