Pacific Point Advisors LLC Makes New $251,000 Investment in International Business Machines Co. (NYSE:IBM)

Pacific Point Advisors LLC bought a new stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,140 shares of the technology company's stock, valued at approximately $251,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new stake in International Business Machines during the 4th quarter worth about $902,000. Kelleher Financial Advisors boosted its stake in shares of International Business Machines by 10.1% during the 4th quarter. Kelleher Financial Advisors now owns 1,401 shares of the technology company's stock worth $308,000 after acquiring an additional 128 shares in the last quarter. Independent Wealth Network Inc. boosted its stake in shares of International Business Machines by 22.3% during the 4th quarter. Independent Wealth Network Inc. now owns 1,337 shares of the technology company's stock worth $294,000 after acquiring an additional 244 shares in the last quarter. Traynor Capital Management Inc. purchased a new stake in International Business Machines in the 4th quarter valued at approximately $290,000. Finally, Olistico Wealth LLC lifted its stake in International Business Machines by 13.7% in the 4th quarter. Olistico Wealth LLC now owns 3,740 shares of the technology company's stock valued at $822,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. UBS Group reiterated a "sell" rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday. Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Bank of America lifted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $249.06.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $258.20 on Friday. The firm has a market capitalization of $239.97 billion, a P/E ratio of 40.28, a PEG ratio of 5.81 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a 50 day moving average price of $244.89 and a 200 day moving average price of $237.84. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $269.28.

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

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid 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 positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is presently 115.66%.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.