International Business Machines Co. (NYSE:IBM) Stock Holdings Increased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC grew its position in shares of International Business Machines Co. (NYSE:IBM) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,116 shares of the technology company’s stock after buying an additional 53 shares during the period. Palumbo Wealth Management LLC’s holdings in International Business Machines were worth $2,004,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in IBM. Compass Financial Services Inc bought a new position in International Business Machines during the fourth quarter worth $26,000. Hazlett Burt & Watson Inc. lifted its position in shares of 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 worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at about $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 valued at $34,000 after buying an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC raised its stake in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. UBS Group lifted their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. BMO Capital Markets boosted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Jefferies Financial Group increased their price objective 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. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 0.6 %

IBM opened at $260.65 on Friday. The stock’s fifty day moving average is $232.08 and its 200-day moving average is $219.25. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The company has a market capitalization of $241.01 billion, a PE ratio of 40.66, a P/E/G ratio of 5.57 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities analysts predict that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.56%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

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.