Cypress Wealth Services LLC Increases Holdings in International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

Cypress Wealth Services LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,467 shares of the technology company’s stock after acquiring an additional 71 shares during the quarter. Cypress Wealth Services LLC’s holdings in International Business Machines were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines in the 2nd quarter worth approximately $7,160,000. Hodges Capital Management Inc. lifted its position in International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after buying an additional 7,768 shares during the period. Burns J W & Co. Inc. NY boosted its holdings in shares of International Business Machines by 10.8% during the 1st 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 shares of International Business Machines in the 2nd quarter worth about $702,000. Finally, GAMMA Investing LLC grew its position in shares of International Business Machines by 42.4% in the 2nd quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock worth $1,621,000 after buying an additional 2,788 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IBM shares. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Evercore ISI raised their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $198.41.

Read Our Latest Stock Analysis on IBM

International Business Machines Stock Down 0.5 %

Shares of IBM opened at $233.05 on Friday. The business’s 50 day simple moving average is $205.92 and its 200-day simple moving average is $187.02. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $235.83. The stock has a market capitalization of $214.67 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. 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 (NYSE:IBM – Get Free Report) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the company earned $2.18 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.87%. International Business Machines’s payout ratio is presently 73.65%.

International Business Machines Company 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.

See Also

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