Petros Family Wealth LLC Takes $907,000 Position in International Business Machines Co. (NYSE:IBM)

Petros Family Wealth LLC bought a new stake in International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,125 shares of the technology company's stock, valued at approximately $907,000. International Business Machines accounts for about 1.0% of Petros Family Wealth LLC's portfolio, making the stock its 25th largest position.

Other hedge funds also recently modified their holdings of the company. Passumpsic Savings Bank lifted its stake in International Business Machines by 3.8% in the 3rd quarter. Passumpsic Savings Bank now owns 2,045 shares of the technology company's stock valued at $452,000 after acquiring an additional 74 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of International Business Machines in the third quarter worth $766,000. Westside Investment Management Inc. boosted its holdings in International Business Machines by 12.2% during the third quarter. Westside Investment Management Inc. now owns 919 shares of the technology company's stock worth $188,000 after purchasing an additional 100 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in International Business Machines by 4.6% in the third quarter. SOA Wealth Advisors LLC. now owns 3,140 shares of the technology company's stock valued at $694,000 after purchasing an additional 139 shares in the last quarter. Finally, Diamant Asset Management Inc. boosted its stake in shares of International Business Machines by 11.0% during the 3rd quarter. Diamant Asset Management Inc. now owns 1,610 shares of the technology company's stock worth $356,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages recently commented on IBM. BMO Capital Markets increased their price target on 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. UBS Group lifted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a report on Tuesday, January 14th. Bank of America raised their price objective on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. StockNews.com cut International Business Machines from a "buy" rating to a "hold" rating in a research note on Saturday, March 15th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $232.75.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $1.67 during trading on Tuesday, hitting $240.73. 3,262,444 shares of the company were exchanged, compared to its average volume of 4,211,110. The company has a market capitalization of $223.22 billion, a P/E ratio of 37.55, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 1-year low of $162.62 and a 1-year 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 business's 50 day moving average is $248.67 and its 200-day moving average is $233.14.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts forecast 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 announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.77%. International Business Machines's payout ratio is 104.21%.

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 completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.

International Business Machines 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.