Sagespring Wealth Partners LLC Invests $5.23 Million in International Business Machines Co. (NYSE:IBM)

Sagespring Wealth Partners LLC bought a new position in International Business Machines Co. (NYSE:IBM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,771 shares of the technology company's stock, valued at approximately $5,225,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after buying an additional 1,539,888 shares in the last quarter. Geode Capital Management LLC raised its stake in International Business Machines by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company's stock worth $1,465,223,000 after purchasing an additional 126,547 shares during the period. Norges Bank purchased a new stake in International Business Machines during the 4th quarter valued at approximately $1,236,176,000. Finally, Invesco Ltd. lifted its holdings in shares of International Business Machines by 5.1% in the fourth quarter. Invesco Ltd. now owns 4,036,860 shares of the technology company's stock worth $887,423,000 after buying an additional 194,814 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

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International Business Machines Trading Up 0.7 %

IBM traded up $1.67 on Tuesday, reaching $240.73. 3,362,107 shares of the company traded hands, compared to its average volume of 4,213,962. 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 has a market cap 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. The firm has a fifty day simple moving average of $248.67 and a two-hundred day simple moving average of $233.14. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders 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 dividend yield of 2.77%. The ex-dividend date was Monday, February 10th. International Business Machines's payout ratio is 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Morgan Stanley boosted their target price on International Business Machines from $217.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective on the stock. Finally, Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $232.75.

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.