Evercore Wealth Management LLC Purchases 1,740 Shares of International Business Machines Co. (NYSE:IBM)

Evercore Wealth Management LLC lifted its position in International Business Machines Co. (NYSE:IBM - Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,783 shares of the technology company's stock after purchasing an additional 1,740 shares during the quarter. Evercore Wealth Management LLC's holdings in International Business Machines were worth $12,043,000 at the end of the most recent quarter.

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

Insider Buying and Selling at International Business Machines

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 completion of the transaction, the senior vice president now owns 45,007 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on IBM. Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They issued an "outperform" rating on the stock. Jefferies Financial Group lowered their price target on shares of International Business Machines from $270.00 to $265.00 and set a "hold" rating for the company in a report on Monday, March 31st. 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. Morgan Stanley upped their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Finally, Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $232.75.

International Business Machines Trading Up 2.1 %

IBM opened at $241.28 on Wednesday. The stock has a market cap of $223.73 billion, a PE ratio of 37.64, a PEG ratio of 5.81 and a beta of 0.67. The business has a 50 day moving average of $246.87 and a 200-day moving average of $233.79. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. 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 announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

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.

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