Abundance Wealth Counselors Buys 940 Shares of International Business Machines Co. (NYSE:IBM)

Abundance Wealth Counselors boosted its stake in International Business Machines Co. (NYSE:IBM) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,307 shares of the technology company’s stock after acquiring an additional 940 shares during the period. International Business Machines accounts for about 0.7% of Abundance Wealth Counselors’ holdings, making the stock its 21st biggest position. Abundance Wealth Counselors’ holdings in International Business Machines were worth $2,831,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in IBM. Moneta Group Investment Advisors LLC raised its position in International Business Machines by 98,797.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after acquiring an additional 11,017,849 shares during the period. Norges Bank bought a new stake in International Business Machines in the fourth quarter worth about $876,014,000. Morgan Stanley raised its position in shares of International Business Machines by 22.8% in the fourth quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after purchasing an additional 3,084,458 shares during the period. BlackRock Inc. raised its position in shares of International Business Machines by 3.5% in the second quarter. BlackRock Inc. now owns 74,044,855 shares of the technology company’s stock valued at $9,907,942,000 after purchasing an additional 2,483,682 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of International Business Machines by 35.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock valued at $579,892,000 after purchasing an additional 1,163,790 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Societe Generale reissued a “sell” rating and issued a $143.00 price target on shares of International Business Machines in a research report on Friday, January 5th. Royal Bank of Canada boosted their price target on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group assumed coverage on shares of International Business Machines in a research report on Friday, January 5th. They issued a “hold” rating and a $180.00 price target on the stock. BMO Capital Markets boosted their price target on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Finally, Bank of America boosted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $176.85.

International Business Machines Price Performance

IBM stock opened at $188.50 on Wednesday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The stock has a market cap of $172.81 billion, a PE ratio of 23.19, a P/E/G ratio of 3.70 and a beta of 0.70. The firm has a 50 day simple moving average of $185.87 and a two-hundred day simple moving average of $163.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $17.29 billion. During the same quarter in the previous year, the company earned $3.60 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 10.07 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.52%. International Business Machines’s payout ratio is 81.67%.

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.