International Business Machines Co. (NYSE:IBM) Shares Bought by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc grew its stake in International Business Machines Co. (NYSE:IBM) by 9.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,696 shares of the technology company’s stock after purchasing an additional 504 shares during the period. Northeast Financial Consultants Inc’s holdings in International Business Machines were worth $985,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IBM. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the 1st quarter valued at $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the first quarter valued at about $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in International Business Machines during the fourth quarter worth about $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on IBM. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. BMO Capital Markets increased 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 report on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, Evercore ISI increased their target price 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. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $188.60.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $220.84 on Friday. The business has a 50-day moving average of $200.17 and a two-hundred day moving average of $185.23. The firm has a market capitalization of $202.86 billion, a PE ratio of 25.01, a P/E/G ratio of 4.90 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $224.15.

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

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.02%. International Business Machines’s payout ratio is currently 75.65%.

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.