Forum Financial Management LP Increases Stake in International Business Machines Co. (NYSE:IBM)

Forum Financial Management LP lifted its stake in International Business Machines Co. (NYSE:IBM) by 22.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,270 shares of the technology company’s stock after purchasing an additional 1,506 shares during the quarter. Forum Financial Management LP’s holdings in International Business Machines were worth $1,818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. Tallon Kerry Patrick purchased a new position in shares of International Business Machines in the 4th quarter valued at approximately $902,000. Independent Wealth Network Inc. raised its position in International Business Machines by 22.3% during the 4th quarter. Independent Wealth Network Inc. now owns 1,337 shares of the technology company’s stock worth $294,000 after buying an additional 244 shares during the last quarter. Traynor Capital Management Inc. purchased a new position in International Business Machines during the 4th quarter worth approximately $290,000. Avior Wealth Management LLC raised its position in International Business Machines by 1.4% during the 4th quarter. Avior Wealth Management LLC now owns 8,176 shares of the technology company’s stock worth $1,756,000 after buying an additional 114 shares during the last quarter. Finally, Red Door Wealth Management LLC raised its position in International Business Machines by 15.9% during the 4th quarter. Red Door Wealth Management LLC now owns 5,141 shares of the technology company’s stock worth $1,130,000 after buying an additional 706 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

International Business Machines Trading Up 0.2%

Shares of IBM stock opened at $258.79 on Friday. The company’s 50-day moving average price is $245.13 and its 200-day moving average price is $238.19. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a market cap of $240.52 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a twelve month low of $163.53 and a twelve month high of $269.28.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.60%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

Analyst Ratings Changes

A number of equities analysts have issued reports on IBM shares. UBS Group reissued a “sell” rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of International Business Machines in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $249.06.

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.