Rebalance LLC Buys 296 Shares of International Business Machines Co. (NYSE:IBM)

by · The Cerbat Gem

Rebalance LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,875 shares of the technology company’s stock after acquiring an additional 296 shares during the quarter. Rebalance LLC’s holdings in International Business Machines were worth $415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. TFG Advisers LLC increased its stake in shares of International Business Machines by 7.5% in the third quarter. TFG Advisers LLC now owns 10,794 shares of the technology company’s stock worth $2,386,000 after purchasing an additional 751 shares in the last quarter. Asset Allocation & Management Company LLC purchased a new position in shares of International Business Machines in the third quarter worth about $200,000. Commerzbank Aktiengesellschaft FI increased its stake in shares of International Business Machines by 173.6% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 208,554 shares of the technology company’s stock worth $46,107,000 after purchasing an additional 132,341 shares in the last quarter. Meadow Creek Wealth Advisors LLC increased its stake in shares of International Business Machines by 38.9% in the third quarter. Meadow Creek Wealth Advisors LLC now owns 2,078 shares of the technology company’s stock worth $459,000 after purchasing an additional 582 shares in the last quarter. Finally, Plan Group Financial LLC increased its stake in shares of International Business Machines by 11.1% in the third quarter. Plan Group Financial LLC now owns 4,231 shares of the technology company’s stock worth $935,000 after purchasing an additional 424 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM traded up $0.76 during trading hours on Wednesday, reaching $233.01. The company had a trading volume of 821,559 shares, compared to its average volume of 4,167,125. International Business Machines Co. has a 1-year low of $136.05 and a 1-year high of $237.37. The firm has a market cap of $214.04 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The business’s 50 day moving average price is $213.86 and its 200-day moving average price is $189.75. 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 issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. UBS Group boosted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $205.71.

Get Our Latest Analysis on International Business Machines

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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