Cyndeo Wealth Partners LLC Has $3.35 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Cyndeo Wealth Partners LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,156 shares of the technology company’s stock after purchasing an additional 450 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in International Business Machines were worth $3,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. grew its position in shares of International Business Machines by 2.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 6,621 shares of the technology company’s stock valued at $1,264,000 after acquiring an additional 129 shares during the period. Ballentine Partners LLC boosted its holdings in International Business Machines by 10.6% in the 1st quarter. Ballentine Partners LLC now owns 14,367 shares of the technology company’s stock valued at $2,744,000 after purchasing an additional 1,381 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of International Business Machines during the first quarter worth approximately $136,000. CHICAGO TRUST Co NA raised its position in shares of International Business Machines by 5.6% in the first quarter. CHICAGO TRUST Co NA now owns 9,025 shares of the technology company’s stock valued at $1,723,000 after buying an additional 479 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of International Business Machines by 27.9% in the first quarter. AdvisorNet Financial Inc now owns 5,997 shares of the technology company’s stock valued at $1,145,000 after buying an additional 1,309 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley raised their price target on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday. Jefferies Financial Group upped their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Bernstein Bank increased their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Finally, DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $203.06.

International Business Machines Price Performance

IBM stock opened at $232.20 on Friday. The company has a market capitalization of $213.30 billion, a P/E ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. The company has a fifty day moving average price of $212.19 and a 200-day moving average price of $189.15. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a 52-week low of $135.87 and a 52-week 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, beating 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 company 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 firm posted $2.18 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

International Business Machines 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.