Trueblood Wealth Management LLC Increases Stock Position in International Business Machines Co. (NYSE:IBM)

Trueblood Wealth Management LLC grew its stake in International Business Machines Co. (NYSE:IBM) by 3.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,768 shares of the technology company’s stock after buying an additional 100 shares during the quarter. Trueblood Wealth Management LLC’s holdings in International Business Machines were worth $612,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the first quarter worth $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the first quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines in the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC increased its position 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 valued at $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc increased its position in shares of International Business Machines by 54.3% during the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $214.57 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm’s fifty day simple moving average is $215.58 and its 200 day simple moving average is $190.42. The stock has a market cap of $197.65 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a twelve month low of $141.58 and a twelve month high of $237.37.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 73.65%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IBM. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Bank of America upped their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Evercore ISI upped 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. Finally, Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $208.12.

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.