Sollinda Capital Management LLC Invests $227,000 in International Business Machines Co. (NYSE:IBM)

Sollinda Capital Management LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,311 shares of the technology company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the first quarter valued at $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines during the 1st quarter valued at about $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines in the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its position in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM traded up $3.23 during mid-day trading on Friday, reaching $202.13. The stock had a trading volume of 4,750,999 shares, compared to its average volume of 4,243,869. The business has a fifty day moving average of $186.57 and a 200 day moving average of $181.94. 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 has a market cap of $185.68 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $202.17.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.18 EPS. Equities analysts predict that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Dividend Announcement

The firm 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 dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.30%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IBM. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. 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 target price on the stock. Stifel Nicolaus boosted their price target on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada increased their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently 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.