Principle Wealth Partners LLC Has $17.48 Million Stock Position in International Business Machines Corporation $IBM

Principle Wealth Partners LLC raised its stake in shares of International Business Machines Corporation (NYSE:IBM) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,024 shares of the technology company’s stock after purchasing an additional 2,379 shares during the quarter. International Business Machines accounts for 1.0% of Principle Wealth Partners LLC’s portfolio, making the stock its 21st largest holding. Principle Wealth Partners LLC’s holdings in International Business Machines were worth $17,484,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. CVA Family Office LLC boosted its holdings in International Business Machines by 1.4% during the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock valued at $708,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. boosted its holdings in International Business Machines by 1.3% during the fourth quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock valued at $742,000 after purchasing an additional 33 shares in the last quarter. New Covenant Trust Company N.A. boosted its holdings in International Business Machines by 3.8% during the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after purchasing an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. boosted its holdings in International Business Machines by 1.2% during the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after purchasing an additional 33 shares in the last quarter. Finally, CFS Investment Advisory Services LLC boosted its holdings in International Business Machines by 0.4% during the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after purchasing an additional 34 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM and the U.S. Commerce Department announced a plan to launch America’s first purpose-built quantum foundry, with IBM set to receive the largest share of federal support and contribute matching capital. IBM and U.S. Department of Commerce Announce America’s First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
• Positive Sentiment: Analysts and media reports say the quantum funding package is a major new catalyst for IBM, helping drive strong share-price momentum and lifting sentiment around the stock’s long-term growth prospects. IBM shares extend rally as Wedbush calls US quantum investment a “new catalyst”
• Positive Sentiment: IBM’s push into quantum computing and related hot tech segments is being viewed as evidence the company is expanding beyond legacy businesses into higher-growth opportunities. Why IBM Stock Was Rocking it This Week
• Neutral Sentiment: Some coverage highlights that IBM’s valuation, debt load, and execution risk will matter as the company commits capital to the quantum foundry project. IBM’s US$1b Anderon Quantum Foundry Puts Valuation And Debt In Focus

Insider Transactions at International Business Machines

In other news, Director Michael Miebach acquired 434 shares of International Business Machines stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $233.33 per share, with a total value of $101,265.22. Following the acquisition, the director owned 434 shares in the company, valued at $101,265.22. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

International Business Machines Stock Up 0.4%

Shares of IBM opened at $253.88 on Friday. The company has a market capitalization of $238.62 billion, a P/E ratio of 22.45, a PEG ratio of 2.62 and a beta of 0.58. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. International Business Machines Corporation has a one year low of $212.34 and a one year high of $324.90. The business’s 50 day simple moving average is $238.70 and its 200-day simple moving average is $272.44.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same period in the previous year, the business earned $1.60 EPS. International Business Machines’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts predict that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be issued a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $6.76 annualized dividend and a yield of 2.7%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio (DPR) is currently 59.77%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBM. Argus set a $360.00 price objective on International Business Machines in a report on Friday, January 30th. Morgan Stanley boosted their target price on International Business Machines from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Stifel Nicolaus set a $290.00 target price on International Business Machines in a report on Friday. Weiss Ratings downgraded International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $294.41.

International Business Machines Profile

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.