Avondale Wealth Management Acquires 56 Shares of International Business Machines Co. (NYSE:IBM)

Avondale Wealth Management lifted its stake in International Business Machines Co. (NYSE:IBM) by 56.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156 shares of the technology company’s stock after buying an additional 56 shares during the period. Avondale Wealth Management’s holdings in International Business Machines were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IBM. Vaughan David Investments LLC IL boosted its position in shares of International Business Machines by 2.8% during the 2nd quarter. Vaughan David Investments LLC IL now owns 13,434 shares of the technology company’s stock worth $2,323,000 after acquiring an additional 370 shares in the last quarter. HHM Wealth Advisors LLC raised its holdings in shares of International Business Machines by 12.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,233 shares of the technology company’s stock worth $213,000 after buying an additional 132 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in shares of International Business Machines by 5.9% during the 2nd quarter. Bahl & Gaynor Inc. now owns 8,898 shares of the technology company’s stock worth $1,539,000 after buying an additional 498 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in International Business Machines in the second quarter valued at about $279,000. Finally, Y.D. More Investments Ltd grew its position in International Business Machines by 133.3% in the second quarter. Y.D. More Investments Ltd now owns 933 shares of the technology company’s stock valued at $161,000 after acquiring an additional 533 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of several research reports. The Goldman Sachs Group lifted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley boosted their price target on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Finally, 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 report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $214.88.

International Business Machines Stock Down 1.6 %

Shares of International Business Machines stock traded down $3.62 during trading on Friday, reaching $219.56. 446,689 shares of the company traded hands, compared to its average volume of 2,599,268. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market capitalization of $203.02 billion, a PE ratio of 31.96, a P/E/G ratio of 5.18 and a beta of 0.74. The company has a 50 day moving average price of $221.70 and a 200-day moving average price of $208.69. International Business Machines Co. has a 1-year low of $160.29 and a 1-year high of $239.35.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.20 EPS. As a group, equities research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.04%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.

International Business Machines 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.