BKM Wealth Management LLC Raises Stake in International Business Machines Co. (NYSE:IBM)

by · The Cerbat Gem

BKM Wealth Management LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 23.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 8,683 shares of the technology company’s stock after buying an additional 1,623 shares during the period. BKM Wealth Management LLC’s holdings in International Business Machines were worth $1,920,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines during the 2nd quarter worth about $7,160,000. Hodges Capital Management Inc. lifted its stake in shares of International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after purchasing an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY lifted its position in International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares in the last quarter. Smith Thornton Advisors LLC purchased a new stake in International Business Machines during the 2nd quarter worth $702,000. Finally, Retirement Planning Group LLC acquired a new stake in shares of International Business Machines in the third quarter valued at about $618,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IBM shares. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group lifted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Finally, Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $208.12.

Read Our Latest Stock Analysis on IBM

International Business Machines Trading Down 1.7 %

Shares of NYSE IBM opened at $214.57 on Friday. The company has a market cap of $197.65 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. The stock’s 50 day simple moving average is $215.58 and its 200 day simple moving average is $190.42. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 12-month low of $141.58 and a 12-month high of $237.37.

International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 earnings per share. Equities research analysts expect that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Dividend Announcement

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

International Business Machines Profile

(Free Report)

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.

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