B.A. Schrock Wealth Management Inc. Purchases New Position in International Business Machines Corporation $IBM

B.A. Schrock Wealth Management Inc. purchased a new stake in International Business Machines Corporation (NYSE:IBM) during the third quarter, Holdings Channel.com reports. The firm purchased 6,176 shares of the technology company’s stock, valued at approximately $1,393,000.

A number of other hedge funds have also recently made changes to their positions in IBM. Portus Wealth Advisors LLC bought a new position in International Business Machines in the first quarter worth about $26,000. Harborfront Financial Group LLC purchased a new stake in shares of International Business Machines during the second quarter valued at about $27,000. Hara Capital LLC purchased a new stake in shares of International Business Machines during the second quarter valued at about $28,000. Bare Financial Services Inc boosted its holdings in shares of International Business Machines by 114.6% in the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. Finally, Caitlin John LLC bought a new stake in shares of International Business Machines in the 2nd quarter valued at about $35,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IBM shares. UBS Group reaffirmed a “neutral” rating on shares of International Business Machines in a research report on Tuesday. HSBC decreased their target price on shares of International Business Machines from $175.00 to $174.00 in a research report on Friday, July 24th. Citigroup lowered their target price on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Daiwa Securities Group cut their price target on shares of International Business Machines from $247.00 to $217.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Nineteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and an average price target of $252.96.

Key Headlines Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Siemens nanostack collaboration supports IBM’s semiconductor strategy. IBM and Siemens announced research to advance IBM’s nanostack transistor architecture, combining IBM’s device expertise with Siemens’ electronic-design and manufacturing software capabilities. The effort could strengthen IBM’s longer-term semiconductor innovation, although it is unlikely to materially affect near-term earnings. IBM and Siemens Collaborate on Research to Advance Nanostack Architecture
• Positive Sentiment: RBC reaffirmed an Outperform rating and a $270 price target. The target implies meaningful upside from recent trading levels and signals that the bank views IBM’s valuation and growth prospects favorably despite recent weakness.
• Positive Sentiment: IBM remains active in quantum computing. IBM advanced to Stage C of DARPA’s Quantum Benchmarking Initiative, reinforcing its position in a potentially important long-term technology market. Revenue benefits remain uncertain and likely distant. DARPA Just Revealed the 2 Best Quantum Computing Stocks to Buy Now

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This represents a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.

International Business Machines Stock Down 1.0%

International Business Machines stock opened at $228.40 on Thursday. The business’s 50-day simple moving average is $232.07 and its two-hundred day simple moving average is $243.68. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The company has a market cap of $215.18 billion, a PE ratio of 20.27, a PEG ratio of 2.20 and a beta of 0.73. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%. The firm had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same period last year, the business posted $2.80 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, August 10th. International Business Machines’s payout ratio is presently 59.98%.

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.