Summit Financial Wealth Advisors LLC Acquires 5,205 Shares of International Business Machines Co. (NYSE:IBM)

Summit Financial Wealth Advisors LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 39.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,367 shares of the technology company’s stock after acquiring an additional 5,205 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in International Business Machines were worth $2,458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. ERn Financial LLC boosted its stake in shares of International Business Machines by 4.2% during the 4th quarter. ERn Financial LLC now owns 1,886 shares of the technology company’s stock worth $266,000 after acquiring an additional 76 shares during the period. IRON Financial LLC boosted its stake in International Business Machines by 4.4% in the 4th quarter. IRON Financial LLC now owns 1,849 shares of the technology company’s stock valued at $261,000 after purchasing an additional 78 shares during the period. Wintrust Investments LLC boosted its stake in International Business Machines by 3.9% in the 4th quarter. Wintrust Investments LLC now owns 2,173 shares of the technology company’s stock valued at $306,000 after purchasing an additional 82 shares during the period. Forte Capital LLC ADV boosted its stake in International Business Machines by 0.9% in the 4th quarter. Forte Capital LLC ADV now owns 9,423 shares of the technology company’s stock valued at $1,328,000 after purchasing an additional 82 shares during the period. Finally, Tranquility Partners LLC boosted its stake in International Business Machines by 5.0% in the 1st quarter. Tranquility Partners LLC now owns 1,730 shares of the technology company’s stock valued at $227,000 after purchasing an additional 82 shares during the period. 56.16% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $0.37 during trading on Tuesday, reaching $145.46. 564,433 shares of the company’s stock were exchanged, compared to its average volume of 4,520,210. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 1-year low of $115.54 and a 1-year high of $153.21. The company has a market cap of $132.52 billion, a P/E ratio of 67.18, a PEG ratio of 3.71 and a beta of 0.85. The firm’s 50-day moving average price is $142.59 and its 200 day moving average price is $133.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The company had revenue of $15.48 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. International Business Machines’s revenue was down .4% on a year-over-year basis. As a group, research analysts anticipate that International Business Machines Co. will post 9.43 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a $1.66 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 dividend on an annualized basis and a yield of 4.56%. International Business Machines’s payout ratio is presently 307.41%.

Analysts Set New Price Targets

Several analysts recently issued reports on IBM shares. Morgan Stanley restated an “equal weight” rating and issued a $135.00 price target on shares of International Business Machines in a research note on Thursday, July 20th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Wedbush reiterated a “neutral” rating and set a $140.00 target price on shares of International Business Machines in a research report on Thursday, July 20th. JPMorgan Chase & Co. initiated coverage on International Business Machines in a research report on Friday, July 7th. They set a “neutral” rating and a $145.00 target price for the company. Finally, Bank of America upped their target price on International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $142.91.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.