Summit Securities Group LLC Increases Position in International Business Machines Co. (NYSE:IBM)

Summit Securities Group LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 1,428.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,400 shares of the technology company’s stock after buying an additional 20,000 shares during the quarter. International Business Machines makes up approximately 1.0% of Summit Securities Group LLC’s portfolio, making the stock its 14th biggest holding. Summit Securities Group LLC’s holdings in International Business Machines were worth $4,704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IBM. Blue Zone Wealth Advisors LLC purchased a new position in shares of International Business Machines during the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines in the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at $373,000. Truist Financial Corp increased its position in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IBM shares. UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Wedbush started coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Jefferies Financial Group increased their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Finally, BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Trading Down 1.0 %

Shares of NYSE IBM opened at $243.83 on Friday. The stock’s 50 day moving average price is $249.51 and its two-hundred day moving average price is $231.47. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The stock has a market capitalization of $226.10 billion, a P/E ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74. 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 posted its quarterly earnings results 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 net margin of 9.60% and a return on equity of 38.99%. On average, analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines’s dividend payout ratio (DPR) is presently 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.