SlateStone Wealth LLC Boosts Stock Holdings in International Business Machines Co. (NYSE:IBM)

SlateStone Wealth LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,515 shares of the technology company’s stock after acquiring an additional 183 shares during the period. SlateStone Wealth LLC’s holdings in International Business Machines were worth $902,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IBM. Naples Money Management LLC purchased a new position in shares of International Business Machines in the 4th quarter worth $28,000. Briaud Financial Planning Inc purchased a new position in shares of International Business Machines in the 3rd quarter worth $31,000. Stone House Investment Management LLC grew its stake in shares of International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. grew its position in International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the last quarter. Finally, Cordant Inc. grew its position in International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after acquiring an additional 226 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on IBM. Societe Generale reaffirmed a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research report on Friday, January 5th. Jefferies Financial Group decreased their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday. Bank of America upped their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Finally, BMO Capital Markets upped their price objective on International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $177.23.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $0.04 during trading on Tuesday, hitting $181.94. The stock had a trading volume of 3,300,791 shares, compared to its average volume of 4,722,264. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The stock has a market capitalization of $166.79 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The stock has a 50-day simple moving average of $188.38 and a two-hundred day simple moving average of $169.59.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.09. The firm had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $3.60 earnings per share. On average, equities research analysts expect that International Business Machines Co. will post 10.04 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.65%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) 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.