Selective Wealth Management Inc. Increases Stake in International Business Machines Co. (NYSE:IBM)

Selective Wealth Management Inc. grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,013 shares of the technology company’s stock after buying an additional 128 shares during the period. International Business Machines comprises about 0.5% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 26th biggest position. Selective Wealth Management Inc.’s holdings in International Business Machines were worth $1,309,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. grew its stake in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines in the second quarter valued at $7,160,000. Philip James Wealth Mangement LLC purchased a new stake in International Business Machines during the 3rd quarter worth about $5,117,000. Nordea Investment Management AB boosted its stake in 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 worth $16,615,000 after purchasing an additional 4,625 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in International Business Machines during the 3rd quarter valued at about $24,761,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $224.73 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $207.80 billion, a P/E ratio of 32.71, a P/E/G ratio of 4.71 and a beta of 0.74. The firm’s fifty day moving average is $222.65 and its 200 day moving average is $210.31. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for 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 company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 earnings per share. Research analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent analyst reports. Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Jefferies Financial Group raised their price target 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. BMO Capital Markets upped their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Sanford C. Bernstein upped their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $215.81.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were 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 of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.