Principle Wealth Partners LLC Has $17.48 Million Holdings in International Business Machines Corporation $IBM

Key Points

• Principle Wealth Partners increased its stake in IBM by 4.2% in the fourth quarter, buying 2,379 additional shares and bringing its holding to 59,024 shares valued at about $17.48 million.
• IBM reported strong quarterly results, with EPS of $1.91 beating estimates and revenue of $15.92 billion topping forecasts, while revenue rose 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, and analysts currently have a consensus rating of Moderate Buy with an average price target of $294.41.

Principle Wealth Partners LLC grew its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,024 shares of the technology company's stock after buying an additional 2,379 shares during the period. International Business Machines makes up approximately 1.0% of Principle Wealth Partners LLC's holdings, making the stock its 21st biggest position. Principle Wealth Partners LLC's holdings in International Business Machines were worth $17,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of International Business Machines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company's stock worth $28,796,390,000 after purchasing an additional 1,439,824 shares during the period. Capital World Investors increased its stake in shares of International Business Machines by 13.9% in the third quarter. Capital World Investors now owns 17,045,156 shares of the technology company's stock worth $4,809,461,000 after purchasing an additional 2,077,506 shares during the period. Legal & General Group Plc increased its stake in shares of International Business Machines by 2.5% in the third quarter. Legal & General Group Plc now owns 7,302,722 shares of the technology company's stock worth $2,060,536,000 after purchasing an additional 176,219 shares during the period. Amundi increased its stake in shares of International Business Machines by 17.9% in the third quarter. Amundi now owns 4,777,516 shares of the technology company's stock worth $1,382,695,000 after purchasing an additional 725,191 shares during the period. Finally, Invesco Ltd. increased its stake in shares of International Business Machines by 2.2% in the third quarter. Invesco Ltd. now owns 3,921,228 shares of the technology company's stock worth $1,106,414,000 after purchasing an additional 86,123 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Transactions at International Business Machines

In other news, Director Michael Miebach purchased 434 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the purchase, the director directly owned 434 shares of the company's stock, valued at approximately $101,265.22. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is owned by corporate insiders.

International Business Machines Trading Up 0.4%

Shares of IBM opened at $253.88 on Friday. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $324.90. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $238.62 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 2.62 and a beta of 0.58. The stock's 50-day moving average price is $238.70 and its 200 day moving average price is $272.44.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The company's quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Corporation will post 12.4 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be paid a dividend of $1.69 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, May 8th. International Business Machines's dividend payout ratio is presently 59.77%.

Analysts Set New Price Targets

A number of research firms have recently commented on IBM. Jefferies Financial Group dropped their price objective on International Business Machines from $370.00 to $320.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Oppenheimer dropped their price objective on International Business Machines from $380.00 to $320.00 and set an "outperform" rating on the stock in a research note on Thursday, April 16th. BMO Capital Markets dropped their price objective on International Business Machines from $290.00 to $270.00 and set a "market perform" rating on the stock in a research note on Thursday, April 23rd. Citigroup began coverage on International Business Machines in a research note on Friday, April 10th. They issued a "buy" rating and a $285.00 price objective on the stock. Finally, DZ Bank upgraded International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 price objective on the stock in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $294.41.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM and the U.S. Commerce Department announced a plan to launch America’s first purpose-built quantum foundry, with IBM set to receive the largest share of federal support and contribute matching capital. IBM and U.S. Department of Commerce Announce America's First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
• Positive Sentiment: Analysts and media reports say the quantum funding package is a major new catalyst for IBM, helping drive strong share-price momentum and lifting sentiment around the stock’s long-term growth prospects. IBM shares extend rally as Wedbush calls US quantum investment a "new catalyst"
• Positive Sentiment: IBM’s push into quantum computing and related hot tech segments is being viewed as evidence the company is expanding beyond legacy businesses into higher-growth opportunities. Why IBM Stock Was Rocking it This Week
• Neutral Sentiment: Some coverage highlights that IBM’s valuation, debt load, and execution risk will matter as the company commits capital to the quantum foundry project. IBM’s US$1b Anderon Quantum Foundry Puts Valuation And Debt In Focus

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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