San Luis Wealth Advisors LLC Buys 696 Shares of International Business Machines Co. (NYSE:IBM)

San Luis Wealth Advisors LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 11.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,647 shares of the technology company’s stock after purchasing an additional 696 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in International Business Machines were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. Bayesian Capital Management LP bought a new position in International Business Machines during the fourth quarter valued at $6,442,000. Bontempo Ohly Capital Mgmt LLC raised its position in International Business Machines by 0.5% during the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 22,474 shares of the technology company’s stock valued at $3,676,000 after purchasing an additional 112 shares in the last quarter. Grayhawk Investment Strategies Inc. bought a new position in shares of International Business Machines during the fourth quarter valued at about $540,000. Pettyjohn Wood & White Inc. grew its stake in shares of International Business Machines by 0.9% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 7,097 shares of the technology company’s stock valued at $1,161,000 after buying an additional 62 shares during the last quarter. Finally, Options Solutions LLC grew its stake in shares of International Business Machines by 54.0% in the fourth quarter. Options Solutions LLC now owns 3,235 shares of the technology company’s stock worth $529,000 after purchasing an additional 1,135 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.5 %

NYSE IBM opened at $233.05 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm’s fifty day moving average price is $206.79 and its 200 day moving average price is $187.34. The company has a market capitalization of $214.67 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $235.83.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations 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 business earned $2.18 EPS. On average, sell-side analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 73.65%.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBM. Jefferies Financial Group lifted their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Evercore ISI boosted 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 report on Wednesday, September 11th. Finally, Royal Bank of Canada boosted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $198.41.

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.