3,209 Shares in International Business Machines Co. (NYSE:IBM) Bought by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC acquired a new stake in International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,209 shares of the technology company's stock, valued at approximately $705,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacific Point Advisors LLC acquired a new stake in International Business Machines during the 4th quarter valued at approximately $251,000. Strait & Sound Wealth Management LLC boosted its stake in shares of International Business Machines by 1.3% during the 4th quarter. Strait & Sound Wealth Management LLC now owns 6,986 shares of the technology company's stock valued at $1,536,000 after buying an additional 89 shares during the last quarter. Helium Advisors LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth approximately $228,000. Sunbelt Securities Inc. increased its stake in shares of International Business Machines by 17.0% in the fourth quarter. Sunbelt Securities Inc. now owns 12,921 shares of the technology company's stock worth $2,846,000 after buying an additional 1,873 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in International Business Machines in the fourth quarter valued at $342,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IBM. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. UBS Group reaffirmed a "sell" rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $249.06.

International Business Machines Price Performance

Shares of IBM opened at $258.79 on Friday. International Business Machines Co. has a 12 month low of $163.53 and a 12 month high of $269.28. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a fifty day moving average price of $245.13 and a 200 day moving average price of $238.19. The company has a market cap of $240.52 billion, a P/E ratio of 40.37, a PEG ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 EPS. On average, research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 115.66%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This trade represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% 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.

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