Pineridge Advisors LLC Acquires Shares of 1,508 International Business Machines Co. (NYSE:IBM)

Pineridge Advisors LLC bought a new position in International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,508 shares of the technology company’s stock, valued at approximately $247,000.

Several other institutional investors have also recently made changes to their positions in the company. Truepoint Inc. purchased a new position in shares of International Business Machines in the 3rd quarter worth approximately $253,000. Checchi Capital Advisers LLC boosted its stake in International Business Machines by 12.2% in the 3rd quarter. Checchi Capital Advisers LLC now owns 9,015 shares of the technology company’s stock worth $1,265,000 after purchasing an additional 977 shares in the last quarter. Financial Engines Advisors L.L.C. lifted its stake in International Business Machines by 18.7% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 5,034 shares of the technology company’s stock valued at $706,000 after acquiring an additional 792 shares during the period. Wealthsource Partners LLC increased its holdings in shares of International Business Machines by 7.4% during the 3rd quarter. Wealthsource Partners LLC now owns 3,942 shares of the technology company’s stock valued at $553,000 after purchasing an additional 271 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in shares of International Business Machines by 1.1% during the 3rd quarter. Korea Investment CORP now owns 585,735 shares of the technology company’s stock valued at $82,179,000 after purchasing an additional 6,444 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on IBM. Wedbush lifted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. cut their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Morgan Stanley dropped their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Jefferies Financial Group dropped their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $181.29.

International Business Machines Trading Up 0.1 %

Shares of IBM stock traded up $0.09 on Friday, hitting $169.21. 2,777,717 shares of the stock traded hands, compared to its average volume of 3,225,373. The firm’s 50-day moving average price is $172.43 and its two-hundred day moving average price is $175.70. International Business Machines Co. has a twelve month low of $129.18 and a twelve month high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The stock has a market capitalization of $155.44 billion, a PE ratio of 19.16, a PEG ratio of 4.17 and a beta of 0.72.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. As a group, analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. 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.