International Business Machines Co. (NYSE:IBM) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 23.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 117,579 shares of the technology company’s stock after acquiring an additional 22,700 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in International Business Machines were worth $25,994,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the second quarter valued at $36,000. Wolff Wiese Magana LLC raised its holdings in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the period. Finally, Briaud Financial Planning Inc lifted its stake in International Business Machines by 54.3% during the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on IBM. Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $205.71.

International Business Machines Stock Up 0.2 %

IBM stock traded up $0.48 during trading on Tuesday, hitting $232.23. 1,074,647 shares of the company’s stock were exchanged, compared to its average volume of 4,173,200. The stock has a market capitalization of $213.33 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $237.37. 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 business has a 50-day moving average price of $213.04 and a two-hundred day moving average price of $189.45.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $15.62 billion. During the same quarter in the previous year, the firm earned $2.18 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.