Sound View Wealth Advisors Group LLC Grows Position in International Business Machines Co. (NYSE:IBM)

Sound View Wealth Advisors Group LLC increased its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,849 shares of the technology company's stock after purchasing an additional 1,057 shares during the quarter. Sound View Wealth Advisors Group LLC's holdings in International Business Machines were worth $7,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock worth $12,307,940,000 after buying an additional 1,200,803 shares during the period. Charles Schwab Investment Management Inc. grew its position in International Business Machines by 1.9% during 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 acquiring an additional 126,547 shares during the last quarter. FMR LLC increased its stake in International Business Machines by 6.0% in 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 period. Swiss National Bank lifted its position 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 purchasing an additional 12,400 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $592,746,000. 58.96% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm's 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 completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Down 3.1 %

IBM stock traded down $7.87 during midday trading on Tuesday, hitting $249.03. The stock had a trading volume of 5,629,213 shares, compared to its average volume of 3,920,243. 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 firm has a market cap of $230.92 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The business has a 50-day moving average of $242.61 and a two-hundred day moving average of $227.42. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

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, topping 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 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 declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.68%. International Business Machines's dividend payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wedbush started coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an "outperform" rating on the stock. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Morgan Stanley boosted their price target on International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of "Hold" and an average price target of $231.44.

About International Business Machines

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.