Soltis Investment Advisors LLC Acquires 614 Shares of International Business Machines Co. (NYSE:IBM)

Soltis Investment Advisors LLC increased its holdings in International Business Machines Co. (NYSE:IBM) by 19.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,704 shares of the technology company’s stock after buying an additional 614 shares during the quarter. Soltis Investment Advisors LLC’s holdings in International Business Machines were worth $814,000 at the end of the most recent reporting period.

Other large investors 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 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares in the last quarter. Brady Martz Wealth Solutions LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $373,000. Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines during the 3rd quarter valued at about $5,117,000. Finally, Nordea Investment Management AB increased its position in shares of 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 valued at $16,615,000 after purchasing an additional 4,625 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 1.3 %

IBM stock opened at $248.95 on Tuesday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market capitalization of $230.19 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 5.57 and a beta of 0.76. The business has a 50 day simple moving average of $229.76 and a two-hundred day simple moving average of $217.38.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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%. Research analysts anticipate that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.68%. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BMO Capital Markets upped 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. Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. UBS Group upped their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $225.53.

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.