Consolidated Planning Corp Buys New Shares in International Business Machines Co. (NYSE:IBM)

Consolidated Planning Corp purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,147 shares of the technology company’s stock, valued at approximately $5,338,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Hara Capital LLC purchased a new stake in International Business Machines in the third quarter worth approximately $29,000. Ascent Wealth Partners LLC boosted its stake in shares of International Business Machines by 0.7% in the 3rd quarter. Ascent Wealth Partners LLC now owns 7,144 shares of the technology company’s stock valued at $1,579,000 after purchasing an additional 49 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of International Business Machines by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock valued at $241,885,000 after purchasing an additional 46,951 shares during the last quarter. Montecito Bank & Trust raised its position in International Business Machines by 2.6% in the 3rd quarter. Montecito Bank & Trust now owns 8,814 shares of the technology company’s stock worth $1,949,000 after purchasing an additional 227 shares during the period. Finally, US Financial Advisors LLC bought a new stake in International Business Machines in the third quarter worth $205,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Up 0.1 %

Shares of International Business Machines stock opened at $213.76 on Friday. International Business Machines Co. has a 1 year low of $145.28 and a 1 year high of $237.37. The firm has a market cap of $197.65 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 4.64 and a beta of 0.71. The company has a 50-day moving average of $217.49 and a 200 day moving average of $191.86. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the business posted $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IBM shares. The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI lifted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Bernstein Bank increased their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Morgan Stanley lowered their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Bank of America boosted 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 report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $208.12.

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.