Naviter Wealth LLC Purchases 1,321 Shares of International Business Machines Co. (NYSE:IBM)

Naviter Wealth LLC grew its position in International Business Machines Co. (NYSE:IBM) by 20.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,874 shares of the technology company’s stock after buying an additional 1,321 shares during the period. Naviter Wealth LLC’s holdings in International Business Machines were worth $1,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Naples Money Management LLC bought a new stake in shares of International Business Machines in the fourth quarter valued at about $28,000. Briaud Financial Planning Inc bought a new position in International Business Machines during the third quarter worth about $31,000. Stone House Investment Management LLC raised its stake in International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares during the period. Financial Gravity Asset Management Inc. boosted its stake in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 91 shares during the period. Finally, Cordant Inc. boosted its position in International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after purchasing an additional 226 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 0.6 %

Shares of International Business Machines stock opened at $166.35 on Tuesday. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $152.50 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.70. The firm’s 50 day moving average is $187.19 and its 200 day moving average is $170.72.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same quarter in the previous year, the company posted $1.36 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 9.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IBM. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research report on Wednesday, April 17th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Morgan Stanley lowered their price objective on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $184.08.

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.