Seven Springs Wealth Group LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Seven Springs Wealth Group LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,286 shares of the technology company’s stock, valued at approximately $283,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Compass Financial Services Inc acquired a new position in International Business Machines during the 4th quarter worth $26,000. Vision Financial Markets LLC acquired a new position in shares of International Business Machines in the fourth quarter worth about $31,000. Avondale Wealth Management grew its position in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its position in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth approximately $35,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $245.73 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The company has a fifty day moving average of $246.57 and a 200-day moving average of $233.87. The stock has a market capitalization of $227.85 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. UBS Group reaffirmed a “sell” rating on shares of International Business Machines in a report on Wednesday. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. increased their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $232.75.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.18% 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.