Phoenix Wealth Advisors Has $478,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Phoenix Wealth Advisors increased its position in shares of International Business Machines Co. (NYSE:IBM) by 9.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,173 shares of the technology company’s stock after purchasing an additional 195 shares during the period. Phoenix Wealth Advisors’ holdings in International Business Machines were worth $478,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its position in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth about $29,000. Avondale Wealth Management increased its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines during the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $224.30 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The company has a market capitalization of $207.40 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. The firm’s 50 day moving average is $223.36 and its 200-day moving average is $211.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the company earned $2.20 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.98%. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on IBM. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group increased their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. BMO Capital Markets raised their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $216.87.

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.