Summit Financial LLC Acquires 9,393 Shares of International Business Machines Co. (NYSE:IBM)

Summit Financial LLC boosted its position in International Business Machines Co. (NYSE:IBM - Free Report) by 67.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,394 shares of the technology company's stock after buying an additional 9,393 shares during the quarter. Summit Financial LLC's holdings in International Business Machines were worth $5,143,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Compass Financial Services Inc bought a new position in shares of International Business Machines in the 4th quarter valued at about $26,000. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management raised its stake in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its stake in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after purchasing an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in shares of International Business Machines in the fourth quarter valued at $35,000. Institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IBM shares. Sanford C. Bernstein upped their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. Morgan Stanley upped their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective for the company. Finally, StockNews.com lowered International Business Machines from a "buy" rating to a "hold" rating in a report on Saturday, March 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $231.13.

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Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred 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 sale, the senior vice president now 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company's stock.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $4.93 on Thursday, reaching $245.05. 2,832,500 shares of the company's stock were exchanged, compared to its average volume of 4,109,793. 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 Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a fifty day moving average of $251.05 and a 200-day moving average of $232.26. The company has a market capitalization of $227.23 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts' consensus estimates 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, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.73%. International Business Machines's payout ratio is 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.