International Business Machines Co. (NYSE:IBM) Shares Bought by SlateStone Wealth LLC

SlateStone Wealth LLC boosted its stake in International Business Machines Co. (NYSE:IBM) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,759 shares of the technology company’s stock after acquiring an additional 663 shares during the period. SlateStone Wealth LLC’s holdings in International Business Machines were worth $1,861,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the first quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines in the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines during the 4th quarter valued at $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its stake in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.0 %

Shares of International Business Machines stock traded up $1.88 during trading on Monday, hitting $197.98. 2,566,948 shares of the stock traded hands, compared to its average volume of 4,268,089. The stock has a market cap of $181.87 billion, a P/E ratio of 22.42, a PEG ratio of 4.24 and a beta of 0.71. The company has a fifty day moving average price of $184.36 and a two-hundred day moving average price of $181.51. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $199.18. 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 issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the company posted $2.18 earnings per share. International Business Machines’s revenue for the quarter was up 1.9% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a $1.67 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.37%. International Business Machines’s payout ratio is presently 75.65%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IBM shares. BMO Capital Markets increased their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Jefferies Financial Group lifted their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. BNP Paribas initiated coverage on International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price on the stock. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $184.93.

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.