Biltmore Wealth Management LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Biltmore Wealth Management LLC bought a new stake in International Business Machines Co. (NYSE:IBM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,188 shares of the technology company’s stock, valued at approximately $205,000.

A number of other large investors also recently made changes to their positions in IBM. Impax Asset Management Group plc increased its holdings in International Business Machines by 17.3% in the 4th quarter. Impax Asset Management Group plc now owns 12,176 shares of the technology company’s stock valued at $1,991,000 after buying an additional 1,800 shares during the period. Aspiriant LLC increased its stake in shares of International Business Machines by 8.9% in the 4th quarter. Aspiriant LLC now owns 6,327 shares of the technology company’s stock valued at $1,035,000 after purchasing an additional 518 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of International Business Machines by 34.0% during the 4th quarter. Cerity Partners LLC now owns 231,227 shares of the technology company’s stock worth $37,817,000 after buying an additional 58,625 shares in the last quarter. Janiczek Wealth Management LLC lifted its position in shares of International Business Machines by 36.8% during the 4th quarter. Janiczek Wealth Management LLC now owns 561 shares of the technology company’s stock worth $92,000 after buying an additional 151 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its stake in International Business Machines by 31.5% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 2,134 shares of the technology company’s stock valued at $349,000 after buying an additional 511 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research reports. Stifel Nicolaus increased their target price on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Jefferies Financial Group raised their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. BMO Capital Markets upped their price target on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. BNP Paribas initiated coverage on International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $184.93.

International Business Machines Trading Up 0.3 %

Shares of IBM traded up $0.51 during trading hours on Friday, hitting $191.45. 2,773,706 shares of the stock were exchanged, compared to its average volume of 4,412,066. The firm has a market capitalization of $175.87 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 4.24 and a beta of 0.71. 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 Co. has a fifty-two week low of $135.87 and a fifty-two week high of $199.18. The business has a 50-day moving average of $178.65 and a 200-day moving average of $180.84.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share 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 analyst estimates of $15.62 billion. During the same period last year, the company posted $2.18 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts expect that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.49%. International Business Machines’s payout ratio is presently 75.65%.

International Business Machines Company Profile

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.