Orca Wealth Management LLC Makes New $216,000 Investment in International Business Machines Co. (NYSE:IBM)

Orca Wealth Management LLC acquired a new position in International Business Machines Co. (NYSE:IBM) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 985 shares of the technology company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares during the period. Holocene Advisors LP acquired a new stake in International Business Machines during the 3rd quarter worth approximately $573,306,000. State Street Corp raised its stake in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. KBC Group NV raised its position in shares of International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after buying an additional 800,930 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after purchasing an additional 536,785 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.5 %

IBM opened at $225.34 on Wednesday. The business’s 50 day moving average is $224.65 and its two-hundred day moving average is $213.14. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $208.36 billion, a price-to-earnings ratio of 32.80, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35.

Analysts Set New Price Targets

Several research analysts have commented on IBM shares. Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their price objective on International Business Machines from $222.00 to $217.00 and set an “equal weight” rating for the company in a report on Tuesday. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $220.40.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.

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.