Resources Management Corp CT ADV Has $4.65 Million Stake in International Business Machines Co. (NYSE:IBM)

Resources Management Corp CT ADV grew its stake in International Business Machines Co. (NYSE:IBM) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,886 shares of the technology company’s stock after purchasing an additional 692 shares during the quarter. Resources Management Corp CT ADV’s holdings in International Business Machines were worth $4,650,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the first quarter valued at about $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines during the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its stake in International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. 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 note on Thursday, July 25th. Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $188.60.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $220.44 on Tuesday. International Business Machines Co. has a one year low of $135.87 and a one year high of $220.62. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market capitalization of $202.50 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 4.67 and a beta of 0.70. The company’s fifty day moving average price is $197.27 and its 200-day moving average price is $184.41.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for 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%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $2.18 earnings per share. On average, equities research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued 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 3.03%. International Business Machines’s payout ratio is 75.65%.

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.