Main Street Financial Solutions LLC Increases Holdings in International Business Machines Co. (NYSE:IBM)

Main Street Financial Solutions LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,237 shares of the technology company’s stock after buying an additional 202 shares during the period. Main Street Financial Solutions LLC’s holdings in International Business Machines were worth $2,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ESL Trust Services LLC purchased a new position in International Business Machines in the 1st quarter worth approximately $28,000. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC purchased a new stake in International Business Machines during the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines during the 2nd quarter valued at $36,000. Finally, Wolff Wiese Magana LLC raised its holdings in International Business Machines by 37.0% in 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 in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $0.27 on Wednesday, hitting $211.13. 918,453 shares of the company traded hands, compared to its average volume of 4,218,043. The stock has a market capitalization of $195.22 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52 week low of $149.05 and a 52 week high of $237.37. The business has a 50-day simple moving average of $218.44 and a 200 day simple moving average of $192.98.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.16%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Morgan Stanley dropped their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

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.