Atlantic Edge Private Wealth Management LLC Raises Position in International Business Machines Co. (NYSE:IBM)

Atlantic Edge Private Wealth Management LLC increased its position in International Business Machines Co. (NYSE:IBM) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,126 shares of the technology company’s stock after buying an additional 126 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in International Business Machines were worth $2,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in IBM. State Street Corp grew its stake in shares of International Business Machines by 2.2% during 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 in the last quarter. FMR LLC increased its stake in shares of International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the period. Swiss National Bank increased its stake in shares of International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares during the period. International Assets Investment Management LLC increased its stake in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after acquiring an additional 2,702,340 shares during the period. Finally, Holocene Advisors LP acquired a new position in International Business Machines in the third quarter worth approximately $573,306,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. Jefferies Financial Group lifted 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 report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. UBS Group upped 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. Sanford C. Bernstein upped their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $225.53.

International Business Machines Trading Down 1.3 %

Shares of NYSE:IBM opened at $248.95 on Tuesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The stock has a market cap of $230.19 billion, a PE ratio of 38.84, a P/E/G ratio of 5.57 and a beta of 0.76. The business has a 50 day moving average of $229.76 and a 200-day moving average of $217.38. 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 issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research analysts forecast that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.68%. International Business Machines’s payout ratio is 104.21%.

About International Business Machines

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.