International Business Machines Co. (NYSE:IBM) Shares Bought by RiverFront Investment Group LLC

RiverFront Investment Group LLC increased its stake in International Business Machines Co. (NYSE:IBM) by 4.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,450 shares of the technology company’s stock after acquiring an additional 151 shares during the quarter. RiverFront Investment Group LLC’s holdings in International Business Machines were worth $758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Compass Financial Services Inc acquired a new stake in International Business Machines during the 4th quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Avondale Wealth Management lifted its position in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC grew its position in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in International Business Machines during the 4th quarter valued at $35,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IBM shares. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. JPMorgan Chase & Co. lifted their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, Sanford C. Bernstein increased their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Trading Down 1.0 %

NYSE:IBM opened at $243.83 on Friday. The company’s 50 day moving average is $249.51 and its 200-day moving average is $231.47. 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 Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The firm has a market cap of $226.10 billion, a price-to-earnings ratio of 38.04, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

International Business Machines Company 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.