International Business Machines Co. (NYSE:IBM) Stake Boosted by Waterfront Wealth Inc.

Waterfront Wealth Inc. boosted its holdings in International Business Machines Co. (NYSE:IBM) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,393 shares of the technology company’s stock after acquiring an additional 46 shares during the period. Waterfront Wealth Inc.’s holdings in International Business Machines were worth $526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in International Business Machines by 40.9% during the 3rd 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 period. Blue Zone Wealth Advisors LLC bought a new stake in International Business Machines in the fourth quarter valued at $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at $1,940,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines during the fourth quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines in the 3rd quarter worth about $5,117,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM stock opened at $261.77 on Friday. The firm has a 50 day simple moving average of $235.27 and a 200 day simple moving average of $221.81. The stock has a market cap of $242.05 billion, a P/E ratio of 40.84, a P/E/G ratio of 5.80 and a beta of 0.76. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that International Business Machines Co. will post 10.77 earnings per share 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. Investors of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

Analysts Set New Price Targets

A number of research firms have issued reports on IBM. UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. 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. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, Wedbush started coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $231.44.

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.