Goldstein Advisors LLC Raises Position in International Business Machines Co. (NYSE:IBM)

Goldstein Advisors LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 58.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,932 shares of the technology company’s stock after acquiring an additional 715 shares during the quarter. Goldstein Advisors LLC’s holdings in International Business Machines were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of IBM. Public Sector Pension Investment Board raised its position in shares of International Business Machines by 72.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 35,496 shares of the technology company’s stock valued at $6,139,000 after purchasing an additional 14,874 shares during the period. Mill Creek Capital Advisors LLC raised its position in shares of International Business Machines by 5.1% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after purchasing an additional 57 shares during the period. Wescott Financial Advisory Group LLC raised its position in shares of International Business Machines by 40.8% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 2,245 shares of the technology company’s stock valued at $388,000 after purchasing an additional 650 shares during the period. Caxton Associates LP bought a new stake in shares of International Business Machines during the 2nd quarter valued at $5,621,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of International Business Machines by 37.2% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,527 shares of the technology company’s stock valued at $264,000 after purchasing an additional 414 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. UBS Group lifted their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. BMO Capital Markets lifted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $220.73.

International Business Machines Stock Performance

International Business Machines stock opened at $223.09 on Thursday. The company’s 50-day moving average price is $223.60 and its 200-day moving average price is $211.90. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. 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 company has a market cap of $206.28 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the company earned $2.20 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.99%. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is 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.