Financial Advocates Investment Management Purchases 275 Shares of International Business Machines Co. (NYSE:IBM)

Financial Advocates Investment Management increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,761 shares of the technology company’s stock after purchasing an additional 275 shares during the quarter. Financial Advocates Investment Management’s holdings in International Business Machines were worth $1,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its stake in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Brady Martz Wealth Solutions LLC bought a new position in shares of International Business Machines in the fourth quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines during the fourth quarter worth $373,000. Philip James Wealth Mangement LLC acquired a new stake in International Business Machines in the third quarter valued at $5,117,000. Finally, Nordea Investment Management AB grew its position in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after acquiring an additional 4,625 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Wedbush initiated coverage on shares of International Business Machines in a report on Monday. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $225.53.

International Business Machines Price Performance

Shares of NYSE IBM opened at $253.30 on Friday. The business has a fifty day moving average price of $228.73 and a two-hundred day moving average price of $216.19. The stock has a market capitalization of $234.21 billion, a PE ratio of 39.52, a P/E/G ratio of 5.63 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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 predict that International Business Machines Co. will post 10.73 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.64%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

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.