Wood Tarver Financial Group LLC Invests $76,000 in International Business Machines Co. (NYSE:IBM)

Wood Tarver Financial Group LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 347 shares of the technology company’s stock, valued at approximately $76,000.

Several other large investors have also modified their holdings of IBM. Compass Financial Services Inc purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the fourth quarter worth $31,000. Rialto Wealth Management LLC purchased a new position in International Business Machines in the fourth quarter worth $35,000. Tacita Capital Inc raised its position in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after acquiring an additional 122 shares in the last quarter. Finally, Measured Risk Portfolios Inc. purchased a new position in International Business Machines in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Oppenheimer started coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Finally, Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $249.06.

International Business Machines Stock Up 1.8%

IBM opened at $263.17 on Wednesday. The business’s fifty day simple moving average is $245.65 and its 200 day simple moving average is $239.02. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $269.28. The firm has a market cap of $244.59 billion, a P/E ratio of 41.06, a PEG ratio of 5.81 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.55%. International Business Machines’s dividend payout ratio is 115.66%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.