Paragon Private Wealth Management LLC Has $1.46 Million Stake in International Business Machines Co. (NYSE:IBM)

Paragon Private Wealth Management LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,649 shares of the technology company’s stock after purchasing an additional 461 shares during the period. Paragon Private Wealth Management LLC’s holdings in International Business Machines were worth $1,462,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $592,746,000. Holocene Advisors LP acquired a new stake in shares of International Business Machines during the third quarter worth $573,306,000. State Street Corp grew its stake in International Business Machines by 2.2% in the third 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 during the period. KBC Group NV boosted its position in shares of International Business Machines by 90.4% during the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after buying an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position in shares of International Business Machines by 23,311.1% during the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after buying an additional 694,204 shares during the period. Institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company’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 sale, the senior vice president now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBM. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lifted their price target on 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 research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $261.67 on Monday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The stock has a market capitalization of $242.63 billion, a P/E ratio of 40.82, a PEG ratio of 5.81 and a beta of 0.74. The firm has a fifty day simple moving average of $241.29 and a two-hundred day simple moving average of $226.62. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its quarterly earnings results 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%. On average, analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.55%. International Business Machines’s dividend payout ratio (DPR) is presently 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.