Uniting Wealth Partners LLC Buys Shares of 4,729 International Business Machines Co. (NYSE:IBM)

Uniting Wealth Partners LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,729 shares of the technology company’s stock, valued at approximately $1,039,000. International Business Machines makes up about 0.5% of Uniting Wealth Partners LLC’s holdings, making the stock its 26th biggest holding.

Several other hedge funds also recently modified their holdings of IBM. Blue Zone Wealth Advisors LLC bought a new stake in International Business Machines in the 4th quarter valued at $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines in the fourth quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines in the fourth quarter worth about $373,000. Truist Financial Corp lifted its stake in International Business Machines by 6.5% during the fourth 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 during the period. Finally, Nordea Investment Management AB boosted its holdings in International Business Machines by 6.5% during the fourth 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. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 0.2 %

International Business Machines stock opened at $249.90 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a 50-day moving average of $251.05 and a 200-day moving average of $232.26. The company has a market cap of $231.72 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. On average, equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. International Business Machines’s dividend payout ratio is 104.21%.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America lifted their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Wedbush assumed coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Morgan Stanley increased their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $231.13.

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.