Sierra Summit Advisors LLC Grows Stake in International Business Machines Co. (NYSE:IBM)

Sierra Summit Advisors LLC boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 12.3% during the second quarter, Holdings Channel reports. The firm owned 9,072 shares of the technology company’s stock after buying an additional 997 shares during the quarter. Sierra Summit Advisors LLC’s holdings in International Business Machines were worth $1,569,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Mosley Wealth Management purchased a new position in International Business Machines during the 4th quarter valued at about $312,000. Hodges Capital Management Inc. increased its stake in shares of International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after purchasing an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY raised its position in shares of International Business Machines by 10.8% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in International Business Machines in the 4th quarter valued at approximately $3,017,000. Finally, Westwood Holdings Group Inc. grew its holdings in International Business Machines by 19.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock valued at $18,861,000 after buying an additional 19,175 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $214.79 on Monday. The business’s fifty day moving average price is $192.83 and its 200 day moving average price is $183.37. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $216.09. 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 market capitalization of $197.85 billion, a P/E ratio of 24.33, a PEG ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.18 EPS. 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Jefferies Financial Group upped their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Three research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $188.60.

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.