Hemington Wealth Management Increases Stock Position in International Business Machines Co. (NYSE:IBM)

Hemington Wealth Management grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,316 shares of the technology company’s stock after buying an additional 163 shares during the quarter. Hemington Wealth Management’s holdings in International Business Machines were worth $509,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Marks Group Wealth Management Inc increased its position in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares during the period. Ellenbecker Investment Group increased its position in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the period. First Affirmative Financial Network increased its position in International Business Machines by 1.5% in the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares during the period. Goldstein Advisors LLC increased its position in International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 47 shares during the period. Finally, Vertex Planning Partners LLC increased its position in International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after purchasing an additional 47 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IBM. Wedbush began coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Morgan Stanley raised their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group raised their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets raised their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Up 0.5 %

NYSE:IBM opened at $255.86 on Thursday. The firm has a market capitalization of $236.58 billion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The stock’s 50 day moving average price is $230.70 and its two-hundred day moving average price is $218.22. 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) last posted 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 return on equity of 38.99% and a net margin of 9.60%. Equities research analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.61%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.