Genesee Capital Advisors LLC Takes $366,000 Position in International Business Machines Co. (NYSE:IBM)

Genesee Capital Advisors LLC bought a new stake in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,632 shares of the technology company’s stock, valued at approximately $366,000.

Several other large investors have also bought and sold shares of IBM. OLD Mission Capital LLC acquired a new stake in shares of International Business Machines during the 3rd quarter valued at about $246,000. Ironwood Wealth Management LLC. boosted its holdings in International Business Machines by 2.0% in the 1st quarter. Ironwood Wealth Management LLC. now owns 10,796 shares of the technology company’s stock worth $1,439,000 after buying an additional 213 shares during the last quarter. Hoylecohen LLC boosted its holdings in International Business Machines by 87.3% in the 1st quarter. Hoylecohen LLC now owns 3,887 shares of the technology company’s stock worth $518,000 after buying an additional 1,812 shares during the last quarter. Virtu Financial LLC boosted its holdings in International Business Machines by 110.4% in the 1st quarter. Virtu Financial LLC now owns 6,173 shares of the technology company’s stock worth $823,000 after buying an additional 3,239 shares during the last quarter. Finally, Colony Group LLC boosted its holdings in International Business Machines by 2.2% in the 1st quarter. Colony Group LLC now owns 14,393 shares of the technology company’s stock worth $1,918,000 after buying an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 55.18% of the company’s stock.

Several equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on International Business Machines in a report on Friday, October 1st. They issued a “buy” rating and a $170.00 price objective on the stock. Credit Suisse Group started coverage on International Business Machines in a report on Friday, October 29th. They issued an “outperform” rating and a $172.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.43.

IBM opened at $116.73 on Thursday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.84 and a quick ratio of 0.78. The company’s 50 day simple moving average is $131.04 and its two-hundred day simple moving average is $138.59. International Business Machines Co. has a 1-year low of $115.19 and a 1-year high of $152.84. The firm has a market capitalization of $104.63 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, October 19th. The technology company reported $2.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.50 by $0.02. International Business Machines had a net margin of 6.40% and a return on equity of 36.23%. The business had revenue of $17.62 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company posted $2.58 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Co. will post 10.4 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Wednesday, November 10th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend is Tuesday, November 9th. International Business Machines’s payout ratio is presently 124.01%.

International Business Machines Profile

International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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