Broadway Wealth Solutions Inc. Buys Shares of 1,942 International Business Machines Co. (NYSE:IBM)

Broadway Wealth Solutions Inc. purchased a new position in International Business Machines Co. (NYSE:IBM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,942 shares of the technology company's stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBM. Vanguard Group Inc. boosted its position in shares of International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares during the last quarter. State Street Corp boosted its holdings in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company's stock valued at $1,465,223,000 after buying an additional 126,547 shares during the period. Norges Bank acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $1,236,176,000. Finally, FMR LLC raised its position in shares of International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company's stock valued at $1,148,717,000 after buying an additional 294,276 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

International Business Machines Stock Down 1.0 %

NYSE IBM traded down $2.38 on Friday, hitting $243.83. 3,125,152 shares of the stock were exchanged, compared to its average volume of 4,089,823. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The company has a 50-day moving average price of $249.51 and a 200-day moving average price of $231.47. The company has a market cap of $226.10 billion, a PE ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. International Business Machines's dividend payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IBM shares. Jefferies Financial Group raised their target price on International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. BMO Capital Markets upped their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Bank of America increased their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and a consensus price target of $231.44.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the firm'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 transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company's stock.

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.