Palumbo Wealth Management LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,063 shares of the technology company’s stock after buying an additional 82 shares during the period. Palumbo Wealth Management LLC’s holdings in International Business Machines were worth $2,004,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in International Business Machines in the first quarter worth approximately $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines during the first quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the second quarter valued at approximately $36,000. Wolff Wiese Magana LLC raised its holdings in shares of 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 in the last quarter. Finally, Briaud Financial Planning Inc raised its holdings in shares of International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after acquiring an additional 100 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.
International Business Machines Stock Performance
Shares of NYSE:IBM traded up $0.31 during mid-day trading on Thursday, reaching $205.21. 638,440 shares of the company traded hands, compared to its average volume of 4,250,011. The company’s 50 day moving average price is $216.38 and its 200-day moving average price is $190.95. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 52 week low of $142.59 and a 52 week high of $237.37. The firm has a market cap of $188.51 billion, a PE ratio of 23.22, a PEG ratio of 4.84 and a beta of 0.70.
International Business Machines Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.26%. International Business Machines’s dividend payout ratio is presently 75.65%.
Analyst Ratings Changes
A number of equities analysts recently commented on IBM shares. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Morgan Stanley lowered their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $208.12.
Get Our Latest Stock Analysis on IBM
International Business Machines 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.
Further Reading
- Five stocks we like better than International Business Machines
- What is a Death Cross in Stocks?
- Microsoft Can Hit New All-Time Highs This Year – Here’s Why
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- Zillow Stock’s Bull Case: Why This Recent Sell-Off Could Be a Buy
- What Do S&P 500 Stocks Tell Investors About the Market?
- IonQ’s Quantum Surge: Ride the Wave or Cash Out?
Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM – Free Report).
Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.