Brophy Wealth Management LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Brophy Wealth Management LLC acquired a new stake in International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,526 shares of the technology company’s stock, valued at approximately $559,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lantz Financial LLC raised its holdings in International Business Machines by 0.9% in the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock valued at $2,064,000 after acquiring an additional 107 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in International Business Machines by 0.6% during the second quarter. Great Valley Advisor Group Inc. now owns 14,469 shares of the technology company’s stock worth $2,503,000 after purchasing an additional 89 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in International Business Machines by 10.2% during the second quarter. Leavell Investment Management Inc. now owns 13,981 shares of the technology company’s stock worth $2,418,000 after purchasing an additional 1,293 shares in the last quarter. Red Door Wealth Management LLC raised its holdings in International Business Machines by 4.2% during the second quarter. Red Door Wealth Management LLC now owns 4,599 shares of the technology company’s stock worth $795,000 after purchasing an additional 187 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC raised its holdings in International Business Machines by 70.7% during the second quarter. Blackston Financial Advisory Group LLC now owns 2,313 shares of the technology company’s stock worth $400,000 after purchasing an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on IBM shares. The Goldman Sachs Group raised their price objective 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. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. BMO Capital Markets raised their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Finally, Bank of America raised their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $208.12.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $231.76 on Wednesday. The firm’s fifty day moving average price is $221.92 and its 200 day moving average price is $200.27. International Business Machines Co. has a 1-year low of $157.88 and a 1-year high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market cap of $214.30 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 5.16 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the firm posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s payout ratio is currently 97.23%.

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.