Seven Springs Wealth Group LLC Invests $283,000 in International Business Machines Co. (NYSE:IBM)

Seven Springs Wealth Group LLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,286 shares of the technology company's stock, valued at approximately $283,000.

Other hedge funds also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its stake in International Business Machines by 8.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 49,076 shares of the technology company's stock valued at $10,788,000 after buying an additional 4,021 shares during the period. Burling Wealth Partners LLC bought a new stake in International Business Machines during the 4th quarter worth about $769,000. Evercore Wealth Management LLC grew its stake in International Business Machines by 3.3% in the fourth quarter. Evercore Wealth Management LLC now owns 54,783 shares of the technology company's stock valued at $12,043,000 after purchasing an additional 1,740 shares in the last quarter. Syon Capital LLC raised its holdings in shares of International Business Machines by 10.6% in the 4th quarter. Syon Capital LLC now owns 1,989 shares of the technology company's stock valued at $437,000 after purchasing an additional 190 shares during the period. Finally, MGO One Seven LLC boosted its stake in shares of International Business Machines by 5.3% during the 4th quarter. MGO One Seven LLC now owns 26,344 shares of the technology company's stock worth $5,791,000 after acquiring an additional 1,319 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction on 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 of the company's stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent analyst reports. UBS Group reiterated a "sell" rating on shares of International Business Machines in a research report on Wednesday. Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 target price on the stock. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research report on Wednesday. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Sanford C. Bernstein raised their price objective on 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $232.75.

International Business Machines Stock Performance

NYSE:IBM opened at $245.73 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The stock has a market capitalization of $227.85 billion, a PE ratio of 38.34, a P/E/G ratio of 5.81 and a beta of 0.67. The company has a fifty day moving average of $246.57 and a two-hundred day moving average of $233.87.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's payout ratio is currently 104.21%.

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.