Gerber LLC Takes $240,000 Position in International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

Gerber LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,086 shares of the technology company’s stock, valued at approximately $240,000.

A number of other hedge funds also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the 1st quarter worth about $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the first quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the second quarter worth approximately $36,000. Financial Synergies Wealth Advisors Inc. raised its holdings in International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its stake in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IBM shares. DZ Bank downgraded 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 note on Wednesday, October 2nd. The Goldman Sachs Group upped 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 report on Monday, September 30th. Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Jefferies Financial Group increased their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $205.71.

Get Our Latest Stock Analysis on IBM

International Business Machines Stock Performance

Shares of IBM traded down $0.69 during mid-day trading on Monday, hitting $231.51. The stock had a trading volume of 1,286,060 shares, compared to its average volume of 4,181,140. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a market cap of $212.67 billion, a PE ratio of 26.26, a PEG ratio of 5.21 and a beta of 0.70. The company’s fifty day simple moving average is $212.19 and its two-hundred day simple moving average is $189.14.

International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.89%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

About International Business Machines

(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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