Gilliland Jeter Wealth Management LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Gilliland Jeter Wealth Management LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,054 shares of the technology company’s stock, valued at approximately $663,000.

Other institutional investors also recently bought and sold shares of the company. Naples Money Management LLC purchased a new position in International Business Machines during the 4th quarter worth $28,000. Briaud Financial Planning Inc purchased a new position in shares of International Business Machines in the 3rd quarter valued at $31,000. Stone House Investment Management LLC increased its holdings in shares of International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares during the period. Financial Gravity Asset Management Inc. increased its holdings in shares of International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the period. Finally, Cordant Inc. increased its holdings in shares of International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after acquiring an additional 226 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

IBM traded down $1.78 on Friday, reaching $167.13. 8,983,796 shares of the stock were exchanged, compared to its average volume of 3,906,041. The company’s 50-day moving average price is $187.60 and its 200 day moving average price is $170.34. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 0.93. The firm has a market capitalization of $153.21 billion, a PE ratio of 18.93, a PEG ratio of 3.30 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that International Business Machines Co. will post 9.99 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a yield of 3.97%. International Business Machines’s dividend payout ratio is currently 75.20%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IBM shares. Bank of America lifted their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. Sanford C. Bernstein lifted their price target on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Societe Generale reiterated a “sell” rating and issued a $143.00 price target on shares of International Business Machines in a report on Friday, January 5th. Finally, Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $184.08.

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.