Signature Wealth Management Group Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Signature Wealth Management Group decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 4.4% in the fourth quarter, HoldingsChannel reports. The fund owned 20,125 shares of the technology company’s stock after selling 929 shares during the quarter. International Business Machines makes up 1.8% of Signature Wealth Management Group’s portfolio, making the stock its 15th largest position. Signature Wealth Management Group’s holdings in International Business Machines were worth $4,424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in International Business Machines by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after acquiring an additional 126,547 shares during the last quarter. FMR LLC lifted its position in International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the last quarter. Swiss National Bank lifted its position in International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in International Business Machines during the fourth quarter valued at approximately $592,746,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.0 %

Shares of NYSE IBM opened at $248.15 on Friday. The company’s 50-day simple moving average is $244.23 and its 200-day simple moving average is $228.26. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The firm has a market cap of $230.10 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. 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 net margin of 9.60% and a return on equity of 38.99%. Equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Finally, Wedbush assumed coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $231.44.

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.