Sowell Financial Services LLC Purchases 641 Shares of International Business Machines Co. (NYSE:IBM)

Sowell Financial Services LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,726 shares of the technology company’s stock after purchasing an additional 641 shares during the period. Sowell Financial Services LLC’s holdings in International Business Machines were worth $6,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Compass Financial Services Inc acquired a new position in International Business Machines in the 4th quarter valued at $26,000. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter worth $31,000. Avondale Wealth Management raised its holdings in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its holdings in shares of 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 buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth $35,000. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Morgan Stanley boosted their price target 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. UBS Group boosted their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Finally, Bank of America boosted their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $231.44.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Performance

NYSE IBM opened at $261.67 on Friday. The company’s 50 day simple moving average is $241.29 and its two-hundred day simple moving average is $226.41. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The stock has a market capitalization of $242.63 billion, a PE ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

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.