Atlas Wealth Partners LLC Acquires Shares of 1,050 International Business Machines Co. (NYSE:IBM)

Atlas Wealth Partners LLC bought a new stake in International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,050 shares of the technology company’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines during the 2nd quarter worth approximately $7,160,000. Hodges Capital Management Inc. increased its position in shares of International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after purchasing an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY raised its stake in International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after purchasing an additional 250 shares during the last quarter. Smith Thornton Advisors LLC purchased a new position in International Business Machines in the 2nd quarter valued at $702,000. Finally, Retirement Planning Group LLC acquired a new stake in International Business Machines during the 3rd quarter worth $618,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IBM shares. Royal Bank of Canada increased their target price on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Bernstein Bank upped their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley boosted their target price on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $203.06.

International Business Machines Stock Down 0.3 %

Shares of NYSE:IBM opened at $232.20 on Friday. The business has a 50-day moving average price of $212.19 and a 200 day moving average price of $189.15. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $213.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the business earned $2.18 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.