Prosperity Wealth Management Inc. Boosts Holdings in International Business Machines Co. (NYSE:IBM)

Prosperity Wealth Management Inc. boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,628 shares of the technology company’s stock after buying an additional 100 shares during the period. Prosperity Wealth Management Inc.’s holdings in International Business Machines were worth $266,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vontobel Holding Ltd. lifted its holdings in International Business Machines by 20.3% in the 4th quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock valued at $78,045,000 after purchasing an additional 80,474 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of International Business Machines by 18.1% in the third quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock worth $52,235,000 after buying an additional 57,170 shares in the last quarter. Herold Advisors Inc. boosted its position in International Business Machines by 3.2% during the third quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock worth $3,070,000 after acquiring an additional 688 shares during the last quarter. Tsfg LLC raised its holdings in International Business Machines by 40.5% in the 4th quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after acquiring an additional 109 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new position in International Business Machines in the 3rd quarter worth approximately $661,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 1.4 %

Shares of IBM traded up $2.50 during midday trading on Wednesday, hitting $183.75. 4,473,654 shares of the stock were exchanged, compared to its average volume of 3,265,758. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The firm has a market cap of $168.45 billion, a P/E ratio of 22.60, a P/E/G ratio of 3.55 and a beta of 0.70. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The stock has a fifty day simple moving average of $188.63 and a 200 day simple moving average of $168.44.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The company had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. International Business Machines’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $3.60 EPS. On average, research analysts anticipate that International Business Machines Co. will post 10.07 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is currently 81.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IBM shares. Stifel Nicolaus upped their price target on International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. BMO Capital Markets raised their target price on International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Royal Bank of Canada increased their price target on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $178.08.

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.