IRON Financial LLC Acquires New Position in International Business Machines Co. (NYSE:IBM)

IRON Financial LLC bought a new position in shares of International Business Machines Co. (NYSE:IBMFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,034 shares of the technology company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Kovack Advisors Inc. increased its stake in International Business Machines by 31.7% during the first quarter. Kovack Advisors Inc. now owns 8,652 shares of the technology company’s stock worth $1,652,000 after acquiring an additional 2,084 shares during the last quarter. Everett Harris & Co. CA raised its holdings in International Business Machines by 4.7% in the 1st quarter. Everett Harris & Co. CA now owns 3,882 shares of the technology company’s stock valued at $741,000 after buying an additional 175 shares during the period. Norden Group LLC lifted its position in International Business Machines by 16.3% in the first quarter. Norden Group LLC now owns 5,880 shares of the technology company’s stock valued at $1,123,000 after buying an additional 824 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new stake in shares of International Business Machines in the first quarter valued at $234,000. Finally, Private Advisor Group LLC raised its holdings in shares of International Business Machines by 5.6% in the 1st quarter. Private Advisor Group LLC now owns 164,921 shares of the technology company’s stock valued at $31,493,000 after buying an additional 8,705 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $1.92 during trading on Thursday, reaching $206.82. The company had a trading volume of 1,505,010 shares, compared to its average volume of 4,254,118. International Business Machines Co. has a fifty-two week low of $142.59 and a fifty-two week high of $237.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock’s fifty day moving average price is $216.38 and its 200 day moving average price is $190.95. The firm has a market capitalization of $189.99 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBMGet Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given 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 3.23%. International Business Machines’s payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IBM shares. Morgan Stanley dropped their target price 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. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Bernstein Bank raised 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $208.12.

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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

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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