Elevate Wealth Advisory Inc. Invests $269,000 in International Business Machines Co. (NYSE:IBM)

Elevate Wealth Advisory Inc. bought a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,225 shares of the technology company's stock, valued at approximately $269,000.

A number of other hedge funds have also made changes to their positions in the company. Berkeley Capital Partners LLC raised its holdings in shares of International Business Machines by 1.3% in the fourth quarter. Berkeley Capital Partners LLC now owns 4,802 shares of the technology company's stock valued at $1,056,000 after purchasing an additional 62 shares during the last quarter. iA Global Asset Management Inc. boosted its position in shares of International Business Machines by 152.0% in the fourth quarter. iA Global Asset Management Inc. now owns 5,397 shares of the technology company's stock valued at $1,186,000 after acquiring an additional 3,255 shares during the period. Teacher Retirement System of Texas boosted its position in shares of International Business Machines by 5.9% in the fourth quarter. Teacher Retirement System of Texas now owns 385,908 shares of the technology company's stock valued at $84,834,000 after acquiring an additional 21,568 shares during the period. Sandy Spring Bank boosted its position in shares of International Business Machines by 23.1% in the fourth quarter. Sandy Spring Bank now owns 13,523 shares of the technology company's stock valued at $2,973,000 after acquiring an additional 2,542 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in International Business Machines by 0.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 403,350 shares of the technology company's stock valued at $88,668,000 after purchasing an additional 3,354 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

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International Business Machines Price Performance

NYSE IBM traded up $0.43 during trading hours on Friday, hitting $243.75. The company had a trading volume of 9,566,862 shares, compared to its average volume of 3,900,703. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The firm has a 50 day simple moving average of $246.77 and a 200 day simple moving average of $230.09. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a market capitalization of $226.02 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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%. Equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

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

Analyst Ratings Changes

IBM has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. StockNews.com downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Saturday, March 15th. BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Finally, Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $231.44.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines 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 transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.