968 Shares in International Business Machines Co. (NYSE:IBM) Acquired by Crane Advisory LLC

Crane Advisory LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 968 shares of the technology company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in International Business Machines in the first quarter valued at approximately $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines in the first quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines in the fourth quarter worth $29,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the second quarter worth $36,000. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. 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 research report on Wednesday, September 4th. Royal Bank of Canada boosted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. BMO Capital Markets boosted their target price 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. Finally, Bernstein Bank boosted their target price 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. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $198.41.

International Business Machines Trading Down 1.0 %

IBM opened at $233.00 on Wednesday. The company has a 50-day simple moving average of $209.64 and a 200 day simple moving average of $188.23. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $237.37. 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 $214.03 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results 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. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.18 EPS. Analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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 presently 75.65%.

About International Business Machines

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.