Sound View Wealth Advisors Group LLC Buys 1,057 Shares of International Business Machines Co. (NYSE:IBM)

Sound View Wealth Advisors Group LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,849 shares of the technology company’s stock after purchasing an additional 1,057 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in International Business Machines were worth $7,001,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in International Business Machines in the 4th quarter worth approximately $592,746,000. Holocene Advisors LP purchased a new position in International Business Machines in the 3rd quarter worth approximately $573,306,000. State Street Corp lifted its holdings in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. KBC Group NV lifted its holdings in International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in International Business Machines by 23,311.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday. Sanford C. Bernstein boosted their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Wedbush initiated coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Morgan Stanley upped their price objective on 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $231.44.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 5.2 %

Shares of NYSE:IBM opened at $261.67 on Friday. The business’s 50-day moving average is $241.29 and its 200 day moving average is $226.41. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The firm has a market capitalization of $242.63 billion, a P/E ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.