Luts & Greenleigh Group Inc. Purchases 133 Shares of International Business Machines Co. (NYSE:IBM)

Luts & Greenleigh Group Inc. raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,298 shares of the technology company’s stock after acquiring an additional 133 shares during the period. Luts & Greenleigh Group Inc.’s holdings in International Business Machines were worth $287,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines in the 1st quarter valued at $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines during the second quarter worth about $36,000. Finally, Financial Synergies Wealth Advisors Inc. grew its stake in International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE:IBM traded down $2.26 during mid-day trading on Tuesday, hitting $233.00. 3,345,723 shares of the stock were exchanged, compared to its average volume of 4,195,569. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm’s 50-day simple moving average is $208.71 and its 200 day simple moving average is $187.93. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The stock has a market capitalization of $214.03 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 EPS. As a group, equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Ratings Changes

A number of equities research analysts recently commented on IBM shares. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. UBS Group increased their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, Royal Bank of Canada lifted their price target on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $198.41.

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.