Axxcess Wealth Management LLC Buys 1,315 Shares of International Business Machines Co. (NYSE:IBM)

Axxcess Wealth Management LLC raised its position in shares of International Business Machines Co. (NYSE:IBM) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,981 shares of the technology company’s stock after acquiring an additional 1,315 shares during the quarter. Axxcess Wealth Management LLC’s holdings in International Business Machines were worth $4,173,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IBM. Meeder Asset Management Inc. raised 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 worth $126,000 after purchasing an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines in the 4th quarter worth about $242,000. Brady Martz Wealth Solutions LLC purchased a new position in International Business Machines during the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines in the fourth quarter worth about $373,000. Finally, Truist Financial Corp increased its stake in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $246.80 on Wednesday. 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 Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a market cap of $228.85 billion, a P/E ratio of 38.50, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The stock’s fifty day moving average price is $245.29 and its 200-day moving average price is $229.16.

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, 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%. On average, equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.71%. International Business Machines’s payout ratio is presently 104.21%.

Analysts Set New Price Targets

A number of brokerages have recently commented on IBM. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. UBS Group increased their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Bank of America lifted 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $231.44.

Insider Transactions at International Business Machines

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

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.