BridgePort Financial Solutions LLC Makes New $374,000 Investment in International Business Machines Co. (NYSE:IBM)

BridgePort Financial Solutions LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,700 shares of the technology company's stock, valued at approximately $374,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compass Financial Services Inc purchased a new position in International Business Machines during the 4th quarter valued at about $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines during the 4th quarter valued at about $31,000. Valued Wealth Advisors LLC boosted its holdings in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after acquiring an additional 90 shares during the period. Rialto Wealth Management LLC purchased a new position in International Business Machines during the 4th quarter valued at about $35,000. Finally, Tacita Capital Inc boosted its holdings in International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after acquiring an additional 122 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on IBM. The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. UBS Group reiterated a "sell" rating and issued a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada lifted their price objective on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and a consensus price target of $249.06.

International Business Machines Stock Performance

IBM traded down $1.44 during trading on Thursday, hitting $258.80. 2,291,984 shares of the stock were exchanged, compared to its average volume of 4,202,477. The firm has a market capitalization of $240.53 billion, a P/E ratio of 40.37, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 1-year low of $163.53 and a 1-year high of $269.28. The stock has a fifty day moving average price of $245.98 and a two-hundred day moving average price of $239.17. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. As a group, sell-side analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

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

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.