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

Prosperity Wealth Management Inc. grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,628 shares of the technology company’s stock after acquiring an additional 100 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in International Business Machines were worth $266,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC bought a new stake in International Business Machines in the 2nd quarter worth approximately $28,000. Live Oak Investment Partners purchased a new position in shares of International Business Machines in the 4th quarter worth $30,000. Briaud Financial Planning Inc bought a new stake in shares of International Business Machines in the third quarter worth $31,000. Stone House Investment Management LLC increased its position in International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its holdings in International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

IBM traded up $2.50 on Wednesday, hitting $183.75. 4,473,654 shares of the company’s stock traded hands, compared to its average volume of 3,265,758. The company’s 50 day simple moving average is $188.63 and its 200-day simple moving average is $168.44. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The firm has a market cap of $168.45 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 3.55 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.78 by $0.09. The firm had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.60 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBM. Sanford C. Bernstein boosted their price target on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Stifel Nicolaus upped their target price on shares of International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Societe Generale reiterated a “sell” rating and set a $143.00 price target on shares of International Business Machines in a research note on Friday, January 5th. Jefferies Financial Group began coverage on International Business Machines in a research note on Friday, January 5th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $178.08.

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.