Retirement Investment Advisors Inc. Acquires Shares of 2,112 International Business Machines Co. (NYSE:IBM)

Retirement Investment Advisors Inc. acquired a new position in International Business Machines Co. (NYSE:IBM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,112 shares of the technology company’s stock, valued at approximately $365,000.

Several other large investors also recently bought and sold shares of IBM. Mosley Wealth Management purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $312,000. Hodges Capital Management Inc. grew its holdings in shares of International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after buying an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY raised its position in shares of International Business Machines by 10.8% in the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of International Business Machines in the fourth quarter worth about $3,017,000. Finally, Westwood Holdings Group Inc. boosted its position in International Business Machines by 19.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock worth $18,861,000 after acquiring an additional 19,175 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.5 %

Shares of NYSE IBM opened at $213.89 on Friday. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $218.84. The business’s 50 day moving average is $195.83 and its two-hundred day moving average is $184.21. The firm has a market cap of $196.48 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 4.67 and a beta of 0.70. 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 (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations 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 business posted $2.18 EPS. Research analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Stifel Nicolaus increased their price target on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price target on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $188.60.

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.