Avidian Wealth Enterprises LLC Increases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Avidian Wealth Enterprises LLC boosted its stake in International Business Machines Co. (NYSE:IBM) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,805 shares of the technology company’s stock after acquiring an additional 179 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in International Business Machines were worth $1,716,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ellenbecker Investment Group increased its holdings in International Business Machines by 2.3% during the 3rd 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 last quarter. First Affirmative Financial Network grew its position in shares of International Business Machines by 1.5% during the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after buying an additional 46 shares in the last quarter. Goldstein Advisors LLC increased its stake in shares of 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 buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC raised its holdings 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 valued at $298,000 after acquiring an additional 47 shares in the last quarter. Finally, Forza Wealth Management LLC boosted its stake in International Business Machines by 0.4% during the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IBM. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Morgan Stanley upped their price objective 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. BMO Capital Markets increased 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. Royal Bank of Canada reiterated 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 began coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Up 2.2 %

International Business Machines stock opened at $254.85 on Wednesday. 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 one year low of $162.62 and a one year high of $265.72. The company has a 50-day simple moving average of $230.19 and a 200-day simple moving average of $217.78. The firm has a market capitalization of $235.65 billion, a P/E ratio of 39.76, a P/E/G ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. As a group, equities analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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.