Bright Financial Advisors Inc. grew its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 10.8% in the third quarter, Holdings Channel reports. The institutional investor owned 1,714 shares of the technology company’s stock after purchasing an additional 167 shares during the period. Bright Financial Advisors Inc.’s holdings in International Business Machines were worth $379,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the first quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines in the 4th quarter valued at $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the 2nd quarter worth about $36,000. Institutional investors own 58.96% of the company’s stock.
Analyst Ratings Changes
IBM has been the subject of several recent research reports. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group boosted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada upped their target price on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $198.41.
International Business Machines Trading Up 0.1 %
IBM traded up $0.24 during mid-day trading on Friday, reaching $233.26. The stock had a trading volume of 3,469,322 shares, compared to its average volume of 4,208,364. The stock has a market capitalization of $214.27 billion, a P/E ratio of 26.42, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $235.83. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm’s fifty day simple moving average is $207.67 and its two-hundred day simple moving average is $187.64.
International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the business posted $2.18 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.
International Business Machines Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.86%. International Business Machines’s payout ratio is currently 75.65%.
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.
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