Heritage Financial Services LLC Acquires 468 Shares of International Business Machines Co. (NYSE:IBM)

Heritage Financial Services LLC boosted its stake in International Business Machines Co. (NYSE:IBM) by 11.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,688 shares of the technology company’s stock after purchasing an additional 468 shares during the quarter. Heritage Financial Services LLC’s holdings in International Business Machines were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IBM. Susquehanna Fundamental Investments LLC bought a new stake in shares of International Business Machines during the second quarter valued at approximately $7,160,000. Hodges Capital Management Inc. grew its holdings in International Business Machines by 60.8% in 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 during the period. Burns J W & Co. Inc. NY increased its stake in International Business Machines by 10.8% during 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 in the last quarter. Smith Thornton Advisors LLC bought a new position in International Business Machines during the second quarter valued at approximately $702,000. Finally, Retirement Planning Group LLC purchased a new stake in International Business Machines in the third quarter worth approximately $618,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on IBM. Jefferies Financial Group increased their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday. Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. UBS Group upped their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

International Business Machines stock opened at $217.40 on Friday. International Business Machines Co. has a 1-year low of $141.58 and a 1-year high of $237.37. The company’s 50-day moving average is $214.67 and its 200 day moving average is $190.05. The firm has a market capitalization of $199.70 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company earned $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.07%. 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.