International Business Machines Co. (NYSE:IBM) Shares Bought by Dover Advisors LLC

Dover Advisors LLC increased its position in shares of International Business Machines Co. (NYSE:IBM) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,219 shares of the technology company’s stock after purchasing an additional 253 shares during the quarter. Dover Advisors LLC’s holdings in International Business Machines were worth $1,375,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines during the second quarter worth about $7,160,000. Hodges Capital Management Inc. grew its stake in International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after buying an additional 7,768 shares during the last quarter. Burns J W & Co. Inc. NY increased its position in International Business Machines by 10.8% in the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after buying an additional 250 shares during the period. Smith Thornton Advisors LLC acquired a new position in shares of International Business Machines during the second quarter valued at $702,000. Finally, Retirement Planning Group LLC acquired a new stake in shares of International Business Machines in the 3rd quarter worth about $618,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Down 1.0 %

Shares of NYSE:IBM traded down $2.26 during trading on Tuesday, reaching $233.00. 3,345,723 shares of the company traded hands, compared to its average volume of 4,195,569. The firm has a fifty day simple moving average of $208.71 and a 200 day simple moving average of $187.93. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The firm has a market cap of $214.03 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating 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 business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the business earned $2.18 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. Analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent analyst reports. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. BMO Capital Markets increased their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group lifted their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $198.41.

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.