JPL Wealth Management LLC Acquires Shares of 15,215 International Business Machines Co. (NYSE:IBM)

JPL Wealth Management LLC acquired a new stake in International Business Machines Co. (NYSE:IBM - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 15,215 shares of the technology company's stock, valued at approximately $3,345,000.

Other large investors have also recently added to or reduced their stakes in the company. Compass Financial Services Inc acquired a new position in International Business Machines in the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the 4th quarter valued at approximately $31,000. Avondale Wealth Management increased its stake in International Business Machines by 56.0% in the 4th 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 period. Valued Wealth Advisors LLC increased its stake in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC bought a new stake in International Business Machines in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Price Performance

NYSE:IBM opened at $249.72 on Thursday. The firm has a market cap of $231.56 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12 month low of $162.62 and a 12 month 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. The company's 50-day moving average price is $243.21 and its two-hundred day moving average price is $227.58.

Remove Ads

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly 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%. On average, equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is 104.21%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BMO Capital Markets boosted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. StockNews.com raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Finally, Bank of America upped their price objective 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, seven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and a consensus target price of $231.44.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.