Cornerstone Wealth Group LLC Boosts Position in International Business Machines Co. (NYSE:IBM)

Cornerstone Wealth Group LLC lifted its position in International Business Machines Co. (NYSE:IBM) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,757 shares of the technology company’s stock after purchasing an additional 83 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in International Business Machines were worth $826,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in International Business Machines in the third quarter valued at $29,000. Avondale Wealth Management lifted its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the 2nd quarter worth $36,000. Finally, Modus Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $40,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IBM. BMO Capital Markets increased their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a research report on Thursday. Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley boosted their price objective on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $220.73.

International Business Machines Trading Down 0.6 %

Shares of International Business Machines stock opened at $224.69 on Monday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market capitalization of $207.75 billion, a P/E ratio of 32.71, a PEG ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The company’s fifty day moving average is $224.33 and its two-hundred day moving average is $212.57.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is owned by company insiders.

International Business Machines Profile

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.