International Business Machines Co. (NYSE:IBM) Shares Purchased by Summit Securities Group LLC

Summit Securities Group LLC lifted its position in International Business Machines Co. (NYSE:IBM - Free Report) by 1,428.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,400 shares of the technology company's stock after buying an additional 20,000 shares during the period. International Business Machines makes up about 1.0% of Summit Securities Group LLC's portfolio, making the stock its 14th largest position. Summit Securities Group LLC's holdings in International Business Machines were worth $4,704,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Compass Financial Services Inc acquired a new stake in International Business Machines in the fourth quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in International Business Machines in the 4th quarter worth approximately $31,000. Avondale Wealth Management grew its position in 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 during the last quarter. Valued Wealth Advisors LLC raised its holdings in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after buying an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $35,000. Institutional investors own 58.96% of the company's stock.

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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 completion of the sale, the senior vice president now owns 45,007 shares of the company's stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research analyst reports. Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. 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 price target for the company. BMO Capital Markets upped their price objective 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. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $231.13.

International Business Machines Price Performance

NYSE IBM traded up $1.88 on Wednesday, hitting $252.22. The company had a trading volume of 1,595,064 shares, compared to its average volume of 4,099,098. 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 company's fifty day moving average price is $250.52 and its 200-day moving average price is $232.13. The company has a market capitalization of $233.87 billion, a PE ratio of 39.35, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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, analysts predict 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 paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio is presently 104.21%.

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.