Nicholson Wealth Management Group LLC Invests $382,000 in International Business Machines Co. (NYSE:IBM)

Nicholson Wealth Management Group LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,727 shares of the technology company’s stock, valued at approximately $382,000.

A number of other hedge funds have also recently made changes to their positions in IBM. Mainstay Capital Management LLC ADV grew its stake in shares of International Business Machines by 1.5% during the 3rd quarter. Mainstay Capital Management LLC ADV now owns 9,602 shares of the technology company’s stock valued at $2,123,000 after acquiring an additional 139 shares during the period. Tectonic Advisors LLC boosted its position in shares of International Business Machines by 11.2% during the third quarter. Tectonic Advisors LLC now owns 46,825 shares of the technology company’s stock worth $10,352,000 after acquiring an additional 4,716 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV boosted its holdings in shares of International Business Machines by 16.6% during the 3rd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 3,520 shares of the technology company’s stock valued at $778,000 after purchasing an additional 500 shares during the last quarter. DT Investment Partners LLC grew its holdings in International Business Machines by 2.5% during the 3rd quarter. DT Investment Partners LLC now owns 9,212 shares of the technology company’s stock valued at $2,037,000 after buying an additional 221 shares in the last quarter. Finally, apricus wealth LLC grew its stake in shares of International Business Machines by 7.6% in the 3rd quarter. apricus wealth LLC now owns 6,198 shares of the technology company’s stock worth $1,370,000 after buying an additional 440 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 6.2 %

NYSE:IBM opened at $218.28 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1-year low of $136.33 and a 1-year high of $237.37. The firm has a market capitalization of $200.51 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The stock has a fifty day simple moving average of $214.67 and a 200 day simple moving average of $190.05.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.05. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the business posted $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.06%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Morgan Stanley cut their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Finally, Bernstein Bank raised their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

About International Business Machines

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.