International Business Machines Co. (NYSE:IBM) Shares Bought by Bright Financial Advisors Inc.

Bright Financial Advisors Inc. boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,714 shares of the technology company’s stock after purchasing an additional 167 shares during the period. Bright Financial Advisors Inc.’s holdings in International Business Machines were worth $379,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC grew its holdings in shares of International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Bernstein Bank upped their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. BMO Capital Markets lifted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $198.41.

International Business Machines Stock Performance

International Business Machines stock traded up $0.24 during trading hours on Friday, reaching $233.26. 3,469,322 shares of the company were exchanged, compared to its average volume of 4,208,364. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $235.83. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a 50-day moving average of $207.67 and a 200 day moving average of $187.64. The firm has a market cap of $214.27 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the business posted $2.18 EPS. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.86%. International Business Machines’s payout ratio is 75.65%.

International Business Machines Company 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.