Uniting Wealth Partners LLC Purchases New Position in International Business Machines Co. (NYSE:IBM)

Uniting Wealth Partners LLC bought a new position in International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,729 shares of the technology company's stock, valued at approximately $1,039,000. International Business Machines makes up about 0.5% of Uniting Wealth Partners LLC's holdings, making the stock its 26th biggest holding.

A number of other institutional investors also recently modified their holdings of IBM. Norges Bank acquired a new position in International Business Machines in the fourth quarter worth approximately $1,236,176,000. Raymond James Financial Inc. bought a new stake in International Business Machines in the fourth quarter worth approximately $592,746,000. Vanguard Group Inc. increased its stake in shares of International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. State Street Corp raised its holdings in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company's stock valued at $370,909,000 after purchasing an additional 800,930 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

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International Business Machines Stock Performance

Shares of IBM stock traded down $6.50 during mid-day trading on Thursday, reaching $243.49. The stock had a trading volume of 5,305,333 shares, compared to its average volume of 4,124,184. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The firm has a market cap of $225.77 billion, a PE ratio of 37.99, a P/E/G ratio of 5.81 and a beta of 0.67. The firm's 50 day simple moving average is $251.41 and its 200 day simple moving average is $232.34. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid 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 yield of 2.74%. International Business Machines's payout ratio is currently 104.21%.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

IBM has been the topic of several analyst reports. UBS Group increased their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research report on Tuesday, January 14th. Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They issued an "outperform" rating on the stock. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target on the stock. Finally, Sanford C. Bernstein boosted their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $231.13.

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.