23,147 Shares in International Business Machines Co. (NYSE:IBM) Bought by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 23,147 shares of the technology company’s stock, valued at approximately $5,117,000.

Other institutional investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. grew its stake in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at about $29,000. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the first quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at about $28,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the second quarter valued at about $36,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Finally, UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

International Business Machines stock traded down $0.45 during midday trading on Friday, reaching $213.24. 254,008 shares of the company’s stock were exchanged, compared to its average volume of 4,230,944. The stock’s 50-day simple moving average is $217.49 and its 200 day simple moving average is $191.86. The firm has a market cap of $197.17 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 4.64 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52 week low of $145.28 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

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.