International Business Machines Co. (NYSE:IBM) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,361,646 shares of the technology company’s stock after buying an additional 3,573 shares during the quarter. Envestnet Asset Management Inc.’s holdings in International Business Machines were worth $299,331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Compass Financial Services Inc bought a new stake in shares of International Business Machines in the 4th quarter worth about $26,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the fourth quarter worth about $31,000. Avondale Wealth Management increased its holdings in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the last quarter. Valued Wealth Advisors LLC raised its stake in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in International Business Machines during the 4th quarter worth approximately $35,000. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Down 6.6 %

IBM opened at $227.31 on Friday. The stock’s 50 day moving average price is $251.46 and its 200 day moving average price is $232.54. 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 stock has a market cap of $210.78 billion, a P/E ratio of 35.46, a P/E/G ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45.

International Business Machines (NYSE:IBM) last issued its quarterly 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%. As a group, research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Morgan Stanley increased their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $231.13.

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.