Elevation Wealth Partners LLC Has $108,000 Stock Position in International Business Machines Co. (NYSE:IBM)

Elevation Wealth Partners LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 30.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 491 shares of the technology company’s stock after buying an additional 116 shares during the period. Elevation Wealth Partners LLC’s holdings in International Business Machines were worth $108,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of IBM. International Assets Investment Management LLC raised its holdings in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares during the period. Holocene Advisors LP acquired a new stake in International Business Machines during the 3rd quarter worth approximately $573,306,000. State Street Corp raised its holdings in International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares during the period. KBC Group NV raised its holdings in International Business Machines by 90.4% during the 4th 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 grew its stake in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after acquiring an additional 694,204 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.4 %

Shares of International Business Machines stock opened at $252.31 on Monday. The business has a fifty day simple moving average of $229.76 and a two-hundred day simple moving average of $217.15. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The company has a market capitalization of $233.30 billion, a price-to-earnings ratio of 39.36, a P/E/G ratio of 5.57 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 (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Research analysts forecast that International Business Machines Co. will post 10.75 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IBM shares. Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Wedbush started coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Jefferies Financial Group raised their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $225.53.

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.