Tyche Wealth Partners LLC Buys New Position in International Business Machines Co. (NYSE:IBM)

Tyche Wealth Partners LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,057 shares of the technology company’s stock, valued at approximately $664,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P increased its stake in International Business Machines by 97.6% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after buying an additional 127,093 shares in the last quarter. Roundview Capital LLC bought a new position in shares of International Business Machines during the 1st quarter valued at approximately $203,000. Sei Investments Co. grew its stake in shares of International Business Machines by 35.7% in the 1st quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock worth $23,157,000 after buying an additional 46,756 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in International Business Machines by 1.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock worth $12,438,000 after acquiring an additional 1,821 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in shares of International Business Machines by 1.5% in the 1st quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock worth $49,698,000 after purchasing an additional 5,506 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on IBM. Royal Bank of Canada increased their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Bank of America upped their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Sanford C. Bernstein boosted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $178.08.

International Business Machines Price Performance

International Business Machines stock traded up $2.50 during trading hours on Wednesday, hitting $183.75. The stock had a trading volume of 4,473,654 shares, compared to its average volume of 3,265,758. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The stock’s fifty day moving average is $188.63 and its two-hundred day moving average is $168.44. The stock has a market capitalization of $168.45 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 3.55 and a beta of 0.70.

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

International Business Machines Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s payout ratio is currently 81.67%.

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.