Secure Asset Management LLC Acquires 604 Shares of International Business Machines Co. (NYSE:IBM)

Secure Asset Management LLC increased its holdings in International Business Machines Co. (NYSE:IBM) by 28.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,714 shares of the technology company’s stock after purchasing an additional 604 shares during the period. Secure Asset Management LLC’s holdings in International Business Machines were worth $600,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IBM. FPC Investment Advisory Inc. bought a new stake in International Business Machines during the first quarter valued at about $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the first quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the second quarter valued at about $36,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in International Business Machines by 164.0% during 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. Finally, Wolff Wiese Magana LLC boosted its holdings in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBM. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Evercore ISI upped 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 International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $203.06.

International Business Machines Price Performance

Shares of IBM stock opened at $232.22 on Friday. The stock’s fifty day simple moving average is $212.19 and its 200 day simple moving average is $189.15. 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 has a market cap of $213.32 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a one year low of $135.87 and a one year high of $237.37.

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, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’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 earnings per share. On average, analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

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.