Hemington Wealth Management Buys 163 Shares of International Business Machines Co. (NYSE:IBM)

Hemington Wealth Management grew its holdings in International Business Machines Co. (NYSE:IBM) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,316 shares of the technology company’s stock after acquiring an additional 163 shares during the quarter. Hemington Wealth Management’s holdings in International Business Machines were worth $509,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in International Business Machines by 40.9% during 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 during the last quarter. Brady Martz Wealth Solutions LLC bought a new position in shares of International Business Machines during the fourth quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines in the 4th quarter valued at $373,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines in the 3rd quarter valued at $5,117,000. Finally, Nordea Investment Management AB raised its holdings in shares of International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IBM shares. Jefferies Financial Group boosted their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Bank of America upped their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Finally, BMO Capital Markets upped their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Price Performance

Shares of NYSE IBM opened at $255.86 on Thursday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The firm has a market cap of $236.58 billion, a P/E ratio of 39.92, a PEG ratio of 5.57 and a beta of 0.76. The company has a 50 day moving average of $230.70 and a 200 day moving average of $218.22. 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 announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts expect that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. 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.