International Business Machines Co. (NYSE:IBM) Shares Purchased by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,626 shares of the technology company’s stock after buying an additional 620 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in International Business Machines were worth $1,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. raised its position in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the 1st quarter valued at $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the 1st quarter worth $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the second quarter worth $36,000. Finally, Wolff Wiese Magana LLC raised its position in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 0.6 %

Shares of NYSE:IBM opened at $207.57 on Wednesday. The firm has a market capitalization of $191.93 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 4.68 and a beta of 0.71. International Business Machines Co. has a 1 year low of $145.28 and a 1 year high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm’s 50-day moving average is $217.19 and its two-hundred day moving average is $191.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. Analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.22%. International Business Machines’s dividend payout ratio is currently 97.23%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. UBS Group lifted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $208.12.

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.