Commonwealth Equity Services LLC Grows Position in International Business Machines Co. (NYSE:IBM)

Commonwealth Equity Services LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,125 shares of the technology company’s stock after purchasing an additional 3,987 shares during the period. Commonwealth Equity Services LLC owned about 0.08% of International Business Machines worth $154,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. FPC Investment Advisory Inc. purchased a new stake in International Business Machines in the 1st quarter worth approximately $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the first quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines in the 2nd quarter valued at about $36,000. Financial Synergies Wealth Advisors Inc. lifted its position in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted its position in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM traded down $0.68 during trading hours on Friday, hitting $232.20. 4,715,688 shares of the company were exchanged, compared to its average volume of 4,195,661. 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 company has a market capitalization of $213.30 billion, a PE ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. The firm has a fifty day simple moving average of $212.19 and a 200-day simple moving average of $189.15. International Business Machines Co. has a one year low of $135.87 and a one year high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share 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 for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the business posted $2.18 EPS. International Business Machines’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is 75.65%.

Analyst Ratings Changes

Several research firms recently commented on IBM. Bank of America boosted their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group boosted their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $203.06.

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.