Essential Planning LLC. Buys New Shares in International Business Machines Co. (NYSE:IBM)

Essential Planning LLC. bought a new stake in International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,950 shares of the technology company’s stock, valued at approximately $3,332,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pettinga Financial Advisors LLC acquired a new stake in International Business Machines during the 3rd quarter valued at $221,000. United Bank lifted its holdings in International Business Machines by 53.3% during the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 1,956 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in International Business Machines by 33.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 15,326 shares of the technology company’s stock valued at $3,388,000 after purchasing an additional 3,801 shares during the last quarter. Harbour Investments Inc. lifted its holdings in International Business Machines by 12.4% during the 3rd quarter. Harbour Investments Inc. now owns 6,205 shares of the technology company’s stock valued at $1,372,000 after purchasing an additional 686 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its holdings in International Business Machines by 89.7% during the 3rd quarter. Aptus Capital Advisors LLC now owns 15,006 shares of the technology company’s stock valued at $3,318,000 after purchasing an additional 7,095 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the subject of several research reports. Oppenheimer initiated coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Finally, Bank of America lifted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 0.3 %

IBM stock opened at $249.72 on Thursday. The company has a market cap of $231.56 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The business has a 50-day simple moving average of $243.21 and a 200 day simple moving average of $227.58. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. Sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Company 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.