Orca Wealth Management LLC Acquires Shares of 985 International Business Machines Co. (NYSE:IBM)

Orca Wealth Management LLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 985 shares of the technology company’s stock, valued at approximately $216,000.

Other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. increased its holdings in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares in the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines during the fourth quarter valued at approximately $1,940,000. Philip James Wealth Mangement LLC bought a new stake in International Business Machines during the third quarter valued at about $5,117,000. Nordea Investment Management AB boosted its position in shares of International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares during the period. Finally, M.E. Allison & CO. Inc. bought a new position in International Business Machines in the 4th quarter worth $1,034,000. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research reports. UBS Group boosted their target price 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. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Finally, Bank of America increased their price target on International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $220.40.

International Business Machines Price Performance

Shares of IBM opened at $225.34 on Wednesday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35. The firm has a market cap of $208.36 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 4.78 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a 50 day moving average of $224.65 and a 200-day moving average of $213.14.

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 that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

About International Business Machines

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.