Waypoint Wealth Partners Inc. Takes $287,000 Position in International Business Machines Co. (NYSE:IBM)

Waypoint Wealth Partners Inc. bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,658 shares of the technology company’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McAdam LLC raised its stake in shares of International Business Machines by 4.6% in the 2nd quarter. McAdam LLC now owns 3,518 shares of the technology company’s stock worth $608,000 after buying an additional 154 shares in the last quarter. LRI Investments LLC raised its position in International Business Machines by 2.9% in the second quarter. LRI Investments LLC now owns 4,106 shares of the technology company’s stock worth $710,000 after acquiring an additional 115 shares in the last quarter. EWA LLC acquired a new stake in International Business Machines in the 2nd quarter valued at about $203,000. TrueWealth Advisors LLC boosted its position in shares of International Business Machines by 4.6% during the 2nd quarter. TrueWealth Advisors LLC now owns 5,052 shares of the technology company’s stock valued at $874,000 after purchasing an additional 221 shares in the last quarter. Finally, Tower Bridge Advisors grew its stake in shares of International Business Machines by 3.9% in the 2nd quarter. Tower Bridge Advisors now owns 11,009 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 418 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.1 %

Shares of International Business Machines stock traded up $0.14 during trading on Friday, hitting $196.10. 2,321,961 shares of the stock traded hands, compared to its average volume of 4,278,521. The company has a fifty day moving average price of $183.79 and a two-hundred day moving average price of $181.43. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $199.18. The stock has a market cap of $180.14 billion, a P/E ratio of 22.21, a PEG ratio of 4.24 and a beta of 0.71. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $15.62 billion. During the same period last year, the company earned $2.18 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio is 75.65%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BNP Paribas started coverage on shares of International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price for the company. Royal Bank of Canada lifted their target price on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Jefferies Financial Group boosted their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $184.93.

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.