Garden State Investment Advisory Services LLC Has $260,000 Holdings in International Business Machines Co. (NYSE:IBM)

Garden State Investment Advisory Services LLC lowered its position in International Business Machines Co. (NYSE:IBM) by 15.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,498 shares of the technology company’s stock after selling 271 shares during the period. Garden State Investment Advisory Services LLC’s holdings in International Business Machines were worth $260,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Mosley Wealth Management bought a new stake in International Business Machines during the fourth quarter valued at $312,000. Hodges Capital Management Inc. lifted its stake 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 valued at $3,921,000 after buying an additional 7,768 shares during the period. Burns J W & Co. Inc. NY increased its stake in shares of International Business Machines by 10.8% in 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 acquiring an additional 250 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of International Business Machines during the 4th quarter valued at $3,017,000. Finally, Westwood Holdings Group Inc. boosted its stake 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 in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 1.7 %

International Business Machines stock opened at $217.63 on Friday. The firm’s 50-day simple moving average is $196.52 and its 200 day simple moving average is $184.38. The stock has a market cap of $199.92 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $218.84. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. International Business Machines’s payout ratio is currently 75.65%.

Analyst Ratings Changes

Several research firms have weighed in on IBM. BMO Capital Markets lifted 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 note on Thursday, July 25th. Royal Bank of Canada boosted their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $188.60.

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.