International Business Machines Co. (NYSE:IBM) Shares Acquired by Plan Group Financial LLC

Plan Group Financial LLC increased its holdings in International Business Machines Co. (NYSE:IBM) by 11.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,231 shares of the technology company’s stock after acquiring an additional 424 shares during the quarter. Plan Group Financial LLC’s holdings in International Business Machines were worth $935,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IBM. Ellenbecker Investment Group raised its position in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the period. Castleview Partners LLC raised its position in shares of International Business Machines by 3.7% during the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock worth $336,000 after purchasing an additional 55 shares during the period. Armbruster Capital Management Inc. raised its position in shares of International Business Machines by 2.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after purchasing an additional 56 shares during the period. Aspect Partners LLC raised its position in shares of International Business Machines by 11.2% during the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock worth $122,000 after purchasing an additional 56 shares during the period. Finally, Plimoth Trust Co. LLC raised its position in shares of International Business Machines by 0.3% during the 3rd quarter. Plimoth Trust Co. LLC now owns 16,782 shares of the technology company’s stock worth $3,710,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their price objective on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Morgan Stanley increased their price objective on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Evercore ISI increased their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Finally, BMO Capital Markets increased their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $205.71.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $231.10 on Wednesday. The firm has a market cap of $212.29 billion, a P/E ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. 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 has a fifty day moving average price of $213.86 and a two-hundred day moving average price of $189.75. International Business Machines Co. has a 1 year low of $136.05 and a 1 year high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $2.18 EPS. Research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 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.