McGlone Suttner Wealth Management Inc. Acquires 231 Shares of International Business Machines Co. (NYSE:IBM)

McGlone Suttner Wealth Management Inc. boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 7.6% in the fourth quarter, Holdings Channel reports. The firm owned 3,271 shares of the technology company’s stock after purchasing an additional 231 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in International Business Machines were worth $719,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Wells Trecaso Financial Group LLC boosted its stake in International Business Machines by 1.0% in the 4th quarter. Wells Trecaso Financial Group LLC now owns 45,133 shares of the technology company’s stock valued at $9,922,000 after buying an additional 440 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares during the period. Montecito Bank & Trust boosted its stake in shares of International Business Machines by 8.5% in the 4th quarter. Montecito Bank & Trust now owns 9,559 shares of the technology company’s stock valued at $2,101,000 after purchasing an additional 745 shares in the last quarter. Secure Asset Management LLC grew its holdings in shares of International Business Machines by 55.1% in the 4th quarter. Secure Asset Management LLC now owns 4,209 shares of the technology company’s stock worth $925,000 after purchasing an additional 1,495 shares during the last quarter. Finally, Red Door Wealth Management LLC increased its position in shares of International Business Machines by 15.9% during the 4th quarter. Red Door Wealth Management LLC now owns 5,141 shares of the technology company’s stock worth $1,130,000 after purchasing an additional 706 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.1 %

NYSE:IBM opened at $225.63 on Friday. The stock’s fifty day simple moving average is $223.60 and its 200-day simple moving average is $211.90. The firm has a market capitalization of $208.63 billion, a P/E ratio of 32.84, a P/E/G ratio of 4.78 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 EPS. Equities research analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several brokerages have weighed in on IBM. Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. UBS Group increased their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $220.73.

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.