Gerber LLC Invests $240,000 in International Business Machines Co. (NYSE:IBM)

Gerber LLC bought a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,086 shares of the technology company’s stock, valued at approximately $240,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ellenbecker Investment Group raised its holdings in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the last quarter. Castleview Partners LLC raised its position in shares of International Business Machines by 3.7% during the third 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. boosted its position in International Business Machines by 2.3% in the second 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 last quarter. Aspect Partners LLC grew 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 valued at $122,000 after acquiring an additional 56 shares during the period. Finally, CVA Family Office LLC boosted its position in International Business Machines by 3.3% during the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on IBM shares. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Evercore ISI lifted 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. The Goldman Sachs Group raised their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. BMO Capital Markets boosted their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $205.71.

International Business Machines Stock Down 0.3 %

NYSE:IBM traded down $0.69 on Monday, reaching $231.51. 1,286,060 shares of the stock traded hands, compared to its average volume of 4,181,140. The company has a market capitalization of $212.67 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 5.21 and a beta of 0.70. The company’s fifty day simple moving average is $212.19 and its 200 day simple moving average is $189.14. 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.

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

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.89%. International Business Machines’s dividend payout ratio (DPR) 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.