Connecticut Wealth Management LLC Grows Stock Holdings in International Business Machines Co. (NYSE:IBM)

Connecticut Wealth Management LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 26.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,434 shares of the technology company’s stock after acquiring an additional 1,338 shares during the period. Connecticut Wealth Management LLC’s holdings in International Business Machines were worth $1,052,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Avalon Trust Co grew its position in International Business Machines by 29.7% in the fourth quarter. Avalon Trust Co now owns 1,561 shares of the technology company’s stock valued at $255,000 after acquiring an additional 357 shares in the last quarter. Royal Fund Management LLC increased its stake in International Business Machines by 2.0% during the 4th quarter. Royal Fund Management LLC now owns 33,973 shares of the technology company’s stock worth $5,560,000 after buying an additional 658 shares during the period. AJOVista LLC acquired a new position in International Business Machines in the 4th quarter worth $119,000. Provence Wealth Management Group boosted its position in International Business Machines by 12.4% in the 4th quarter. Provence Wealth Management Group now owns 3,119 shares of the technology company’s stock valued at $510,000 after buying an additional 344 shares during the last quarter. Finally, VeraBank N.A. purchased a new stake in shares of International Business Machines during the fourth quarter worth about $251,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM traded up $1.02 during trading hours on Friday, hitting $165.71. The company had a trading volume of 3,400,405 shares, compared to its average volume of 4,768,629. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The firm has a market cap of $152.22 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The business has a fifty day simple moving average of $185.75 and a 200-day simple moving average of $171.44.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the firm posted $1.36 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts predict that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $1.67 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. UBS Group raised their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. BNP Paribas initiated coverage on shares of International Business Machines in a research note on Thursday. They issued an “underperform” rating and a $145.00 target price on the stock. Finally, Morgan Stanley decreased their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $181.29.

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.