Pines Wealth Management LLC Takes $2.11 Million Position in International Business Machines Co. (NYSE:IBM)

Pines Wealth Management LLC bought a new stake in International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,599 shares of the technology company's stock, valued at approximately $2,109,000. International Business Machines accounts for 0.9% of Pines Wealth Management LLC's investment portfolio, making the stock its 23rd largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of 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 buying an additional 1,200,803 shares during the period. Legal & General Group Plc lifted its stake in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company's stock worth $1,467,974,000 after acquiring an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. FMR LLC lifted 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 worth $1,148,717,000 after purchasing an additional 294,276 shares during the last quarter. Finally, Swiss National Bank increased its holdings in International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company's stock valued at $602,819,000 after buying an additional 12,400 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IBM. UBS Group upped their price target on International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a report on Tuesday. Bank of America boosted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. StockNews.com lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a research note on Friday, January 3rd. Finally, Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $215.81.

International Business Machines Stock Up 0.1 %

Shares of International Business Machines stock opened at $217.54 on Wednesday. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. The company has a market cap of $201.15 billion, a P/E ratio of 31.67, a PEG ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a fifty day moving average of $222.34 and a two-hundred day moving average of $210.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to analysts' expectations of $15.08 billion. During the same period in the prior year, the company posted $2.20 earnings per share. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Tuesday, November 12th. International Business Machines's dividend payout ratio is presently 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.

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.