Signet Financial Management LLC Invests $202,000 in International Business Machines Co. (NYSE:IBM)

Signet Financial Management LLC purchased a new position in International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,236 shares of the technology company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Avion Wealth boosted its holdings in shares of International Business Machines by 6.2% during the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after purchasing an additional 56 shares during the last quarter. Financial Security Advisor Inc. boosted its holdings in shares of International Business Machines by 2.7% during the 4th quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock worth $384,000 after purchasing an additional 61 shares during the last quarter. Cornerstone Wealth Group LLC boosted its holdings in shares of International Business Machines by 3.6% during the 4th quarter. Cornerstone Wealth Group LLC now owns 1,734 shares of the technology company’s stock worth $284,000 after purchasing an additional 61 shares during the last quarter. Webster Bank N. A. boosted its holdings in shares of International Business Machines by 0.9% during the 4th quarter. Webster Bank N. A. now owns 7,131 shares of the technology company’s stock worth $1,166,000 after purchasing an additional 62 shares during the last quarter. Finally, Thrive Wealth Management LLC boosted its holdings in shares of International Business Machines by 0.9% during the 4th quarter. Thrive Wealth Management LLC now owns 7,311 shares of the technology company’s stock worth $1,196,000 after purchasing an additional 64 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the topic of several recent research reports. Sanford C. Bernstein boosted their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Bank of America upped their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. BMO Capital Markets upped their price objective on International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Societe Generale reiterated a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $178.67.

International Business Machines Stock Down 0.4 %

International Business Machines stock opened at $183.05 on Thursday. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18. The stock’s fifty day simple moving average is $188.61 and its 200-day simple moving average is $168.54. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $167.81 billion, a P/E ratio of 22.52, a P/E/G ratio of 3.60 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The business had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. During the same quarter in the prior year, the company earned $3.60 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Co. will post 10.07 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were issued a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 3.63%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

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.