SlateStone Wealth LLC Buys 183 Shares of International Business Machines Co. (NYSE:IBM)

SlateStone Wealth LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,515 shares of the technology company’s stock after acquiring an additional 183 shares during the quarter. SlateStone Wealth LLC’s holdings in International Business Machines were worth $902,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in IBM. Summit Global Investments bought a new stake in International Business Machines during the 3rd quarter valued at approximately $235,000. Ziegler Capital Management LLC raised its holdings in International Business Machines by 0.8% in the 3rd quarter. Ziegler Capital Management LLC now owns 21,863 shares of the technology company’s stock valued at $3,067,000 after acquiring an additional 172 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in International Business Machines by 4.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 72,914 shares of the technology company’s stock valued at $10,096,000 after acquiring an additional 2,859 shares in the last quarter. Brown Miller Wealth Management LLC raised its holdings in International Business Machines by 46.5% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 12,644 shares of the technology company’s stock valued at $1,773,000 after acquiring an additional 4,015 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its holdings in International Business Machines by 87.4% in the 3rd quarter. Meridian Wealth Management LLC now owns 87,212 shares of the technology company’s stock valued at $12,237,000 after acquiring an additional 40,678 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.0 %

International Business Machines stock traded up $0.04 during mid-day trading on Tuesday, hitting $181.94. 3,300,791 shares of the company’s stock were exchanged, compared to its average volume of 4,722,264. The company’s 50 day simple moving average is $188.38 and its 200-day simple moving average is $169.59. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The firm has a market capitalization of $166.79 billion, a P/E ratio of 22.64, a PEG ratio of 3.57 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22.

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, beating 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 firm had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $17.29 billion. During the same quarter last year, the business posted $3.60 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Co. will post 10.04 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is currently 81.67%.

Wall Street Analyst Weigh In

IBM has been the subject of several recent research reports. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a report on Wednesday, April 17th. Bank of America increased their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Jefferies Financial Group decreased their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada increased their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $177.23.

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.