Capital Investment Counsel LLC Purchases 1,526 Shares of International Business Machines Co. (NYSE:IBM)

Capital Investment Counsel LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 5.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 28,917 shares of the technology company’s stock after buying an additional 1,526 shares during the quarter. Capital Investment Counsel LLC’s holdings in International Business Machines were worth $6,357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its stake 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 buying an additional 116 shares during the period. Hara Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $29,000. Avondale Wealth Management raised its position 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 acquiring an additional 56 shares during the period. Valued Wealth Advisors LLC boosted its stake in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. Finally, Modus Advisors LLC bought a new position in International Business Machines during the 4th quarter worth approximately $40,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 0.5 %

NYSE IBM opened at $225.34 on Wednesday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a 50 day moving average of $224.65 and a 200-day moving average of $213.14. The company has a market cap of $208.36 billion, a PE ratio of 32.80, a PEG ratio of 4.78 and a beta of 0.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Bernstein Bank lifted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Bank of America raised their price target on International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $220.40.

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.