Brooklyn FI LLC Makes New $455,000 Investment in International Business Machines Co. (NYSE:IBM)

Brooklyn FI LLC bought a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, HoldingsChannel reports. The fund bought 2,000 shares of the technology company’s stock, valued at approximately $455,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $26,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $31,000. Avondale Wealth Management increased its stake in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC increased its stake in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 2.3 %

Shares of NYSE:IBM opened at $252.54 on Thursday. The business’s 50 day simple moving average is $245.88 and its two-hundred day simple moving average is $229.33. The firm has a market cap of $234.17 billion, a P/E ratio of 39.40, a PEG ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. International Business Machines’s dividend payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Oppenheimer began coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Finally, Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $231.44.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % 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 hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.