Proficio Capital Partners LLC Acquires 1,206 Shares of International Business Machines Co. (NYSE:IBM)

Proficio Capital Partners LLC raised its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 81.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,686 shares of the technology company's stock after purchasing an additional 1,206 shares during the quarter. Proficio Capital Partners LLC's holdings in International Business Machines were worth $591,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. United Bank boosted its holdings in shares of International Business Machines by 53.3% during the 3rd quarter. United Bank now owns 5,628 shares of the technology company's stock worth $1,244,000 after buying an additional 1,956 shares in the last quarter. Quest Partners LLC boosted its stake in International Business Machines by 23,700.0% during the third quarter. Quest Partners LLC now owns 238 shares of the technology company's stock worth $53,000 after acquiring an additional 237 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in International Business Machines by 23.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 95,529 shares of the technology company's stock valued at $21,120,000 after purchasing an additional 18,340 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake in International Business Machines by 1.2% in the third quarter. Great Valley Advisor Group Inc. now owns 14,649 shares of the technology company's stock valued at $3,239,000 after purchasing an additional 180 shares in the last quarter. Finally, Cerity Partners LLC grew its position in International Business Machines by 0.9% in the 3rd quarter. Cerity Partners LLC now owns 299,691 shares of the technology company's stock valued at $66,256,000 after purchasing an additional 2,648 shares during the period. Institutional investors own 58.96% of the company's stock.

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Insider Buying and Selling at International Business Machines

In other 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 transaction, the senior vice president now owns 45,007 shares in the company, 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 filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

International Business Machines Trading Up 0.3 %

NYSE:IBM traded up $0.68 during mid-day trading on Tuesday, reaching $249.13. 1,412,594 shares of the company's stock traded hands, compared to its average volume of 3,901,451. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a 50 day moving average price of $247.40 and a 200-day moving average price of $230.42. The firm has a market capitalization of $231.01 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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, sell-side analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research report on Tuesday, January 14th. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating on the stock. Sanford C. Bernstein upped their target price on International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $231.44.

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.