Hollow Brook Wealth Management LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Hollow Brook Wealth Management LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 954 shares of the technology company’s stock, valued at approximately $211,000.

Other hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its position in shares of 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 worth $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines in the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC boosted its holdings 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 valued at $38,000 after acquiring an additional 60 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in International Business Machines during the third quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. UBS Group increased their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

International Business Machines stock opened at $227.60 on Monday. The business has a 50 day simple moving average of $220.63 and a 200-day simple moving average of $197.69. International Business Machines Co. has a 12 month low of $157.88 and a 12 month high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market capitalization of $210.45 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 5.11 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. 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 firm posted $2.20 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated 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 owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.07% of the stock is owned by company insiders.

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.