Sound View Wealth Advisors Group LLC Has $4.32 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Sound View Wealth Advisors Group LLC raised its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 44.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,426 shares of the technology company's stock after purchasing an additional 8,123 shares during the quarter. Sound View Wealth Advisors Group LLC's holdings in International Business Machines were worth $4,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Naples Money Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth about $28,000. Briaud Financial Planning Inc bought a new stake in shares of International Business Machines during the third quarter valued at approximately $31,000. Stone House Investment Management LLC grew its position in International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company's stock valued at $32,000 after purchasing an additional 204 shares during the period. Financial Gravity Asset Management Inc. increased its stake in International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company's stock valued at $32,000 after purchasing an additional 91 shares in the last quarter. Finally, Cordant Inc. raised its holdings in International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company's stock worth $42,000 after buying an additional 226 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock traded up $0.06 during trading on Friday, reaching $169.03. 2,949,576 shares of the company's stock traded hands, compared to its average volume of 4,807,772. The firm's 50-day moving average is $181.90 and its 200 day moving average is $172.81. The company has a market capitalization of $155.27 billion, a P/E ratio of 19.04, a PEG ratio of 4.15 and a beta of 0.74. International Business Machines Co. has a 1 year low of $125.01 and a 1 year high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.53 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. The firm's quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts expect that International Business Machines Co. will post 9.91 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.95%. This is a boost from International Business Machines's previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. International Business Machines's payout ratio is presently 75.65%.

Analyst Ratings Changes

A number of research firms recently weighed in on IBM. Bank of America upped their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, March 14th. Evercore ISI raised International Business Machines from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. BMO Capital Markets dropped their price objective on International Business Machines from $210.00 to $190.00 and set a "market perform" rating on the stock in a research note on Thursday, April 25th. Morgan Stanley reduced their target price on shares of International Business Machines from $186.00 to $179.00 and set an "equal weight" rating for the company in a research note on Friday, April 26th. Finally, Wedbush raised their price target on shares of International Business Machines from $140.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $181.29.

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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