SteelPeak Wealth LLC Acquires 17,473 Shares of International Business Machines Co. (NYSE:IBM)

SteelPeak Wealth LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 56.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,295 shares of the technology company’s stock after acquiring an additional 17,473 shares during the quarter. SteelPeak Wealth LLC’s holdings in International Business Machines were worth $10,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of International Business Machines by 20,324.5% in 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 purchasing an additional 2,702,340 shares during the period. Holocene Advisors LP purchased a new stake in International Business Machines in the third quarter worth about $573,306,000. State Street Corp boosted its position in International Business Machines by 2.2% during the 3rd 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 in the last quarter. KBC Group NV grew its holdings in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after acquiring an additional 800,930 shares during the period. Finally, Eagle Asset Management Inc. raised its position in shares of International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after acquiring an additional 536,785 shares in the last quarter. 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 research reports. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Bernstein Bank raised their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets boosted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $220.40.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $225.34 on Wednesday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market capitalization of $208.36 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 4.78 and a beta of 0.74. The stock has a 50-day moving average of $224.65 and a 200 day moving average of $213.14. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35.

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.