Bar Harbor Wealth Management Grows Position in International Business Machines Co. (NYSE:IBM)

Bar Harbor Wealth Management lifted its holdings in International Business Machines Co. (NYSE:IBM) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,837 shares of the technology company’s stock after buying an additional 977 shares during the period. International Business Machines makes up 1.1% of Bar Harbor Wealth Management’s holdings, making the stock its 24th biggest position. Bar Harbor Wealth Management’s holdings in International Business Machines were worth $16,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Meeder Asset Management Inc. increased its stake in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in International Business Machines during the second quarter worth about $7,160,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines in the 3rd quarter valued at about $5,117,000. Nordea Investment Management AB lifted its holdings in International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after acquiring an additional 4,625 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth about $24,761,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

International Business Machines Stock Down 1.1 %

IBM stock traded down $2.36 during trading on Monday, hitting $217.39. 2,226,215 shares of the company’s stock were exchanged, compared to its average volume of 2,943,109. The stock has a market capitalization of $201.01 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The business has a 50-day moving average price of $221.92 and a two-hundred day moving average price of $209.52.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the business earned $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IBM shares. Bernstein Bank increased their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group upped their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $214.88.

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.