Kingsview Wealth Management LLC Acquires 3,287 Shares of International Business Machines Co. (NYSE:IBM)

Kingsview Wealth Management LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,278 shares of the technology company’s stock after buying an additional 3,287 shares during the quarter. Kingsview Wealth Management LLC’s holdings in International Business Machines were worth $6,216,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Watts Gwilliam & Co. LLC purchased a new position in International Business Machines during the 3rd quarter valued at about $519,000. LVW Advisors LLC lifted its position in International Business Machines by 25.1% during the 3rd quarter. LVW Advisors LLC now owns 2,176 shares of the technology company’s stock valued at $481,000 after acquiring an additional 437 shares during the period. Freestate Advisors LLC purchased a new position in International Business Machines during the 3rd quarter valued at about $469,000. Red Mountain Financial LLC purchased a new position in International Business Machines during the 3rd quarter valued at about $236,000. Finally, LongView Wealth Management purchased a new position in International Business Machines during the 3rd quarter valued at about $250,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $252.31 on Friday. The firm has a 50 day moving average of $229.76 and a 200 day moving average of $216.92. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $233.30 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72.

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 net margin of 9.60% and a return on equity of 38.99%. On average, research analysts anticipate that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IBM shares. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. BMO Capital Markets lifted 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 research report on Thursday, January 30th. 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. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $225.53.

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.