Tyche Wealth Partners LLC Makes New $664,000 Investment in International Business Machines Co. (NYSE:IBM)

Tyche Wealth Partners LLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,057 shares of the technology company’s stock, valued at approximately $664,000.

Several other large investors have also modified their holdings of IBM. Desjardins Global Asset Management Inc. boosted its position in shares of International Business Machines by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after purchasing an additional 54 shares during the period. Signet Financial Management LLC purchased a new position in shares of International Business Machines in the fourth quarter worth approximately $202,000. Main Street Research LLC purchased a new position in shares of International Business Machines in the fourth quarter worth approximately $269,000. Octavia Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at approximately $244,000. Finally, United Asset Strategies Inc. acquired a new position in International Business Machines in the 4th quarter worth approximately $395,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 1.4 %

Shares of IBM stock traded up $2.50 on Wednesday, hitting $183.75. The company’s stock had a trading volume of 4,473,654 shares, compared to its average volume of 3,265,758. The stock has a market capitalization of $168.45 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 3.55 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The firm’s fifty day moving average price is $188.63 and its 200-day moving average price is $168.44. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The company had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. During the same quarter in the prior year, the company posted $3.60 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Research analysts anticipate that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were paid a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a yield of 3.61%. International Business Machines’s payout ratio is presently 81.67%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Stifel Nicolaus lifted their target price on International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Royal Bank of Canada increased their price target on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Bank of America boosted their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average target price of $178.08.

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.