Wolff Wiese Magana LLC Buys 244 Shares of International Business Machines Co. (NYSE:IBM)

Wolff Wiese Magana LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 109.9% during the third quarter, HoldingsChannel reports. The firm owned 466 shares of the technology company’s stock after purchasing an additional 244 shares during the quarter. Wolff Wiese Magana LLC’s holdings in International Business Machines were worth $103,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IBM. Vanguard Group Inc. raised its position in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares in the last quarter. Legal & General Group Plc raised its holdings in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. lifted its position in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of International Business Machines by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after buying an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 0.3 %

IBM opened at $233.64 on Thursday. The stock has a market capitalization of $214.62 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 5.21 and a beta of 0.70. The firm has a 50 day moving average price of $210.57 and a 200-day moving average price of $188.54. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $237.37. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the business earned $2.18 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.86%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBM. Evercore ISI lifted their price target 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. UBS Group boosted their price target 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. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $200.82.

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.