Ellenbecker Investment Group Grows Stock Position in International Business Machines Co. (NYSE:IBM)

Ellenbecker Investment Group raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,049 shares of the technology company’s stock after buying an additional 46 shares during the period. Ellenbecker Investment Group’s holdings in International Business Machines were worth $453,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $28,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.6 %

NYSE IBM opened at $231.48 on Friday. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37. 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 company has a market capitalization of $212.64 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company’s fifty day moving average price is $211.38 and its two-hundred day moving average price is $188.85.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. As a group, research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.89%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent research reports. Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group boosted their target price 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. UBS Group boosted 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. Royal Bank of Canada upped their price objective on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley upped their price objective on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $203.06.

International Business Machines 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.