SevenBridge Financial Group LLC Grows Stock Holdings in International Business Machines Co. (NYSE:IBM)

SevenBridge Financial Group LLC grew its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,881 shares of the technology company's stock after purchasing an additional 1,320 shares during the quarter. SevenBridge Financial Group LLC's holdings in International Business Machines were worth $4,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines during the 4th quarter worth $242,000. Brady Martz Wealth Solutions LLC bought a new position in shares of International Business Machines during the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in shares of International Business Machines in the fourth quarter worth approximately $373,000. Truist Financial Corp lifted its position in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after purchasing an additional 49,591 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company's stock valued at $16,615,000 after purchasing an additional 4,625 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Jefferies Financial Group dropped their price objective on shares of International Business Machines from $270.00 to $265.00 and set a "hold" rating on the stock in a report on Monday. Wedbush started coverage on International Business Machines in a research note on Monday, February 3rd. They issued an "outperform" rating for the company. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given 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 an average rating of "Hold" and an average target price of $231.13.

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Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

International Business Machines Stock Performance

Shares of IBM traded down $6.50 on Thursday, reaching $243.49. 5,305,333 shares of the company's stock traded hands, compared to its average volume of 4,119,033. The stock's 50 day simple moving average is $251.05 and its two-hundred day simple moving average is $232.26. The stock has a market cap of $225.77 billion, a PE ratio of 37.99, a PEG ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last announced its 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 return on equity of 38.99% and a net margin of 9.60%. On average, 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 business also recently announced 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 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend 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.