Perigon Wealth Management LLC grew its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,240 shares of the technology company’s stock after acquiring an additional 1,535 shares during the period. Perigon Wealth Management LLC’s holdings in International Business Machines were worth $3,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the business. New World Advisors LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at $214,000. Luts & Greenleigh Group Inc. bought a new position in International Business Machines in the 4th quarter worth $201,000. Kennedy Investment Group boosted its holdings in International Business Machines by 3.5% in the 4th quarter. Kennedy Investment Group now owns 3,114 shares of the technology company’s stock worth $509,000 after buying an additional 106 shares during the period. Benedict Financial Advisors Inc. bought a new position in International Business Machines in the 4th quarter worth $224,000. Finally, Wealth Effects LLC boosted its holdings in International Business Machines by 33.6% in the 4th quarter. Wealth Effects LLC now owns 12,192 shares of the technology company’s stock worth $1,994,000 after buying an additional 3,065 shares during the period. Institutional investors own 58.96% of the company’s stock.
International Business Machines Trading Down 0.7 %
IBM stock traded down $1.27 during mid-day trading on Friday, reaching $184.63. The company had a trading volume of 841,187 shares, compared to its average volume of 4,839,623. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market capitalization of $169.26 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70. The firm has a 50 day moving average of $188.73 and a 200 day moving average of $167.26. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18.
International Business Machines Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a yield of 3.60%. International Business Machines’s payout ratio is 81.67%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of International Business Machines in a report on Friday, January 5th. They issued a “hold” rating and a $180.00 target price for the company. Stifel Nicolaus boosted their price target on shares of International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Bank of America boosted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, BMO Capital Markets boosted their price target on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $176.85.
Check Out Our Latest Stock Analysis on International Business Machines
International Business Machines 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.
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