New England Professional Planning Group Inc. Takes Position in International Business Machines Co. (NYSE:IBM)

New England Professional Planning Group Inc. purchased a new stake in International Business Machines Co. (NYSE:IBM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,129 shares of the technology company’s stock, valued at approximately $250,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Independence Bank of Kentucky boosted its holdings in shares of International Business Machines by 55.4% in the third quarter. Independence Bank of Kentucky now owns 5,530 shares of the technology company’s stock worth $1,223,000 after buying an additional 1,972 shares during the period. Worth Asset Management LLC lifted its position in shares of International Business Machines by 516.1% in the 3rd quarter. Worth Asset Management LLC now owns 8,946 shares of the technology company’s stock valued at $1,978,000 after acquiring an additional 7,494 shares in the last quarter. Rappaport Reiches Capital Management LLC acquired a new position in International Business Machines in the 3rd quarter worth approximately $332,000. San Luis Wealth Advisors LLC boosted its stake in International Business Machines by 11.7% in the 3rd quarter. San Luis Wealth Advisors LLC now owns 6,647 shares of the technology company’s stock worth $1,470,000 after purchasing an additional 696 shares during the period. Finally, Cerro Pacific Wealth Advisors LLC grew its position in International Business Machines by 14.9% during the 3rd quarter. Cerro Pacific Wealth Advisors LLC now owns 2,338 shares of the technology company’s stock worth $517,000 after purchasing an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Bernstein Bank lifted their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Stifel Nicolaus upped their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. UBS Group raised their price target 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. Finally, DZ Bank lowered 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 note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $198.41.

International Business Machines Stock Down 0.7 %

Shares of NYSE:IBM traded down $1.62 on Friday, reaching $231.40. The company had a trading volume of 665,995 shares, compared to its average volume of 4,194,138. 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 stock has a market capitalization of $213.15 billion, a P/E ratio of 25.52, a P/E/G ratio of 5.21 and a beta of 0.70. The stock has a 50-day moving average price of $206.79 and a 200 day moving average price of $187.34. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $235.83.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business earned $2.18 earnings per share. The company’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 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.89%. International Business Machines’s dividend payout ratio (DPR) is presently 73.65%.

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.