Adell Harriman & Carpenter Inc. Increases Position in International Business Machines Co. (NYSE:IBM)

Adell Harriman & Carpenter Inc. lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 2.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,532 shares of the technology company’s stock after buying an additional 1,660 shares during the quarter. International Business Machines makes up 1.0% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 26th largest holding. Adell Harriman & Carpenter Inc.’s holdings in International Business Machines were worth $14,046,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of IBM. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC bought a new position in International Business Machines in the 1st quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines during the 2nd quarter valued at approximately $36,000. Wolff Wiese Magana LLC raised its position in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc lifted its holdings in shares of International Business Machines by 54.3% in the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Morgan Stanley reduced their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Trading Down 1.2 %

IBM opened at $210.43 on Wednesday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock’s 50 day moving average price is $216.23 and its 200-day moving average price is $190.85. International Business Machines Co. has a one year low of $142.58 and a one year high of $237.37. The stock has a market cap of $193.30 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the company posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts forecast that International Business Machines Co. will post 10.13 EPS for the current year.

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.