Cassaday & Co Wealth Management LLC Acquires 1,212 Shares of International Business Machines Co. (NYSE:IBM)

Cassaday & Co Wealth Management LLC grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 9.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,296 shares of the technology company’s stock after purchasing an additional 1,212 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in International Business Machines were worth $3,143,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Compass Financial Services Inc bought a new stake in International Business Machines in the 4th quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines in the 3rd quarter valued at about $29,000. Avondale Wealth Management increased its position in 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 buying an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC increased its holdings 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. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.2 %

International Business Machines stock opened at $264.85 on Friday. The stock has a market cap of $244.89 billion, a P/E ratio of 41.32, a PEG ratio of 5.80 and a beta of 0.76. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The firm’s fifty day moving average price is $234.65 and its 200-day moving average price is $221.26. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities research analysts forecast that International Business Machines Co. will post 10.77 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.52%. International Business Machines’s dividend payout ratio is presently 104.21%.

Analyst Upgrades and Downgrades

A number of analysts have commented on IBM shares. Morgan Stanley boosted their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Sanford C. Bernstein boosted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Finally, Wedbush initiated coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $231.44.

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.