International Business Machines Corporation $IBM Shares Bought by KFG Wealth Management LLC
by Kim Johansen · The Markets DailyKFG Wealth Management LLC increased its position in International Business Machines Corporation (NYSE:IBM – Free Report) by 275.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,281 shares of the technology company’s stock after acquiring an additional 2,406 shares during the period. KFG Wealth Management LLC’s holdings in International Business Machines were worth $972,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Mountain Hill Investment Partners Corp. acquired a new stake in International Business Machines in the 3rd quarter valued at about $28,000. SWAN Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter worth approximately $28,000. Trifecta Capital Advisors LLC raised its holdings in shares of International Business Machines by 129.1% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock worth $36,000 after purchasing an additional 71 shares in the last quarter. American Wealth Advisors LLC acquired a new stake in International Business Machines during the third quarter valued at approximately $40,000. Finally, Davis Capital Management acquired a new stake in International Business Machines during the third quarter valued at approximately $54,000. Institutional investors own 58.96% of the company’s stock.
Insider Buying and Selling
In related news, Director David N. Farr acquired 1,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were purchased at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the purchase, the director owned 9,258 shares in the company, valued at $2,814,432. This represents a 12.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Miebach bought 434 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost of $233.33 per share, with a total value of $101,265.22. Following the purchase, the director directly owned 434 shares in the company, valued at approximately $101,265.22. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 1,484 shares of company stock worth $417,157 over the last ninety days. 0.27% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts have issued reports on IBM shares. Dbs Bank raised International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday, January 19th. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Bank of America boosted their target price on International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Oppenheimer set a $380.00 target price on International Business Machines and gave the company an “outperform” rating in a report on Thursday, January 29th. Finally, BMO Capital Markets decreased their price target on International Business Machines from $350.00 to $290.00 and set a “market perform” rating for the company in a research report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.60.
Read Our Latest Analysis on International Business Machines
International Business Machines Price Performance
Shares of NYSE:IBM opened at $246.25 on Tuesday. The company’s fifty day moving average is $259.22 and its two-hundred day moving average is $284.08. The company has a market cap of $230.99 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.47 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67.
International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.33 by $0.19. The business had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.International Business Machines’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.92 earnings per share. Equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.
International Business Machines Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 60.27%.
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.
Featured Stories
Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM – Free Report).