Summit Financial Wealth Advisors LLC lifted its stake in International Business Machines Co. (NYSE:IBM – Free Report) by 39.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,367 shares of the technology company’s stock after buying an additional 5,205 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in International Business Machines were worth $2,458,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Live Oak Investment Partners purchased a new position in shares of International Business Machines in the fourth quarter worth about $30,000. GW&K Investment Management LLC purchased a new position in International Business Machines during the 1st quarter valued at about $33,000. First Command Advisory Services Inc. purchased a new position in International Business Machines during the 1st quarter valued at about $37,000. Kepos Capital LP purchased a new position in International Business Machines during the 4th quarter valued at about $42,000. Finally, Pacific Center for Financial Services purchased a new position in International Business Machines during the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 56.16% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on IBM. JPMorgan Chase & Co. began coverage on International Business Machines in a report on Friday, July 7th. They set a “neutral” rating and a $145.00 price target on the stock. Stifel Nicolaus boosted their price target on International Business Machines from $140.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, July 20th. BMO Capital Markets boosted their price target on International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a report on Monday, July 17th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $135.00 price objective on shares of International Business Machines in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $142.91.
International Business Machines Stock Up 0.3 %
Shares of IBM traded up $0.37 during mid-day trading on Tuesday, reaching $145.46. The company had a trading volume of 564,433 shares, compared to its average volume of 4,520,210. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a 50-day moving average price of $142.59 and a 200 day moving average price of $133.71. International Business Machines Co. has a 52 week low of $115.54 and a 52 week high of $153.21. The company has a market capitalization of $132.52 billion, a price-to-earnings ratio of 67.18, a price-to-earnings-growth ratio of 3.71 and a beta of 0.85.
International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The firm had revenue of $15.48 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the previous year, the firm posted $2.31 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that International Business Machines Co. will post 9.43 EPS for the current year.
International Business Machines Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were given a $1.66 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $6.64 annualized dividend and a yield of 4.56%. International Business Machines’s dividend payout ratio (DPR) is presently 307.41%.
International Business Machines Profile
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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