Elite Financial Inc. Purchases New Shares in International Business Machines Co. (NYSE:IBM)

Elite Financial Inc. bought a new position in International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,064 shares of the technology company's stock, valued at approximately $673,000. International Business Machines comprises approximately 0.4% of Elite Financial Inc.'s portfolio, making the stock its 29th biggest position.

Several other institutional investors have also modified their holdings of the stock. Compass Financial Services Inc acquired a new stake in International Business Machines during the fourth quarter worth $26,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $31,000. Valued Wealth Advisors LLC raised its holdings in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after buying an additional 90 shares during the period. Rialto Wealth Management LLC acquired a new position in International Business Machines in the fourth quarter valued at about $35,000. Finally, Tacita Capital Inc raised its stake in shares of International Business Machines by 174.3% in 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. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several research reports. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. 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. Morgan Stanley cut their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $249.06.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction dated 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 completion of the sale, the senior vice president now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company's stock.

International Business Machines Stock Down 1.2%

NYSE IBM traded down $3.03 during trading on Wednesday, reaching $260.20. 2,315,654 shares of the company's stock were exchanged, compared to its average volume of 4,210,109. The company has a 50 day moving average price of $245.65 and a two-hundred day moving average price of $239.02. The stock has a market cap of $241.83 billion, a P/E ratio of 40.59, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The business 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 business's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.58%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

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.