Kestra Advisory Services LLC Buys 13,638 Shares of International Business Machines Co. (NYSE:IBM)

Kestra Advisory Services LLC grew its stake in International Business Machines Co. (NYSE:IBM) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,886 shares of the technology company’s stock after acquiring an additional 13,638 shares during the period. Kestra Advisory Services LLC’s holdings in International Business Machines were worth $41,963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of IBM. Compass Financial Services Inc acquired a new position in International Business Machines during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new stake in International Business Machines during the fourth quarter worth $31,000. Avondale Wealth Management raised its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its position 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 purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at about $35,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $248.15 on Friday. The firm has a market capitalization of $230.10 billion, a P/E ratio of 38.71, a PEG 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. The company has a 50 day moving average price of $244.23 and a 200 day moving average price of $228.05. 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 issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBM. UBS Group increased their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Oppenheimer initiated coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their price target 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target 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.