NewEdge Wealth LLC Acquires 6,816 Shares of International Business Machines Corporation $IBM

NewEdge Wealth LLC lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,269 shares of the technology company’s stock after purchasing an additional 6,816 shares during the quarter. International Business Machines accounts for approximately 0.9% of NewEdge Wealth LLC’s portfolio, making the stock its 18th largest position. NewEdge Wealth LLC’s holdings in International Business Machines were worth $60,823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Brighton Jones LLC boosted its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC lifted its position in International Business Machines by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after buying an additional 186 shares during the last quarter. Phoenix Financial Ltd. purchased a new stake in International Business Machines in the second quarter worth approximately $2,034,000. Cullen Frost Bankers Inc. grew its position in International Business Machines by 0.4% during the second quarter. Cullen Frost Bankers Inc. now owns 85,629 shares of the technology company’s stock valued at $25,242,000 after acquiring an additional 370 shares during the last quarter. Finally, Gables Capital Management Inc. raised its stake in shares of International Business Machines by 33.3% during the second quarter. Gables Capital Management Inc. now owns 200 shares of the technology company’s stock worth $59,000 after acquiring an additional 50 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Business Machines

In related news, Director David N. Farr acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was acquired at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director owned 9,258 shares of the company’s stock, valued at $2,814,432. This trade represents a 12.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Up 1.0%

NYSE IBM opened at $260.96 on Thursday. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The stock has a market capitalization of $243.92 billion, a PE ratio of 23.40, a PEG ratio of 2.59 and a beta of 0.69. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. The business’s 50-day moving average is $296.22 and its 200 day moving average is $284.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.33 by $0.19. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The business had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. During the same quarter last year, the business posted $3.92 EPS. The business’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a $1.68 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $6.72 annualized dividend and a yield of 2.6%. International Business Machines’s payout ratio is 60.27%.

Wall Street Analyst Weigh In

Several research firms recently commented on IBM. Morgan Stanley set a $304.00 target price on shares of International Business Machines in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $312.00 to $317.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Stifel Nicolaus lifted their price objective on International Business Machines from $325.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Argus set a $360.00 target price on International Business Machines in a report on Friday, January 30th. Finally, Dbs Bank upgraded International Business Machines from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $330.07.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.