Magnolia Capital Advisors LLC Invests $520,000 in International Business Machines Co. (NYSE:IBM)

Magnolia Capital Advisors LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,008 shares of the technology company’s stock, valued at approximately $520,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Copperwynd Financial LLC boosted its holdings in International Business Machines by 10.9% in the second quarter. Copperwynd Financial LLC now owns 5,010 shares of the technology company’s stock valued at $963,000 after acquiring an additional 494 shares during the last quarter. Creative Planning boosted its holdings in International Business Machines by 6.5% in the second quarter. Creative Planning now owns 286,063 shares of the technology company’s stock valued at $49,475,000 after acquiring an additional 17,475 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in International Business Machines by 16.7% in the second quarter. Kathmere Capital Management LLC now owns 1,571 shares of the technology company’s stock valued at $272,000 after acquiring an additional 225 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its holdings in International Business Machines by 10.5% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,660 shares of the technology company’s stock valued at $460,000 after acquiring an additional 253 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the second quarter valued at approximately $36,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of several analyst reports. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Jefferies Financial Group boosted their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Evercore ISI boosted their price target 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. The Goldman Sachs Group boosted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $191.93.

International Business Machines Trading Up 0.1 %

NYSE IBM opened at $221.07 on Tuesday. The firm has a market capitalization of $203.08 billion, a P/E ratio of 25.04, a PEG ratio of 4.90 and a beta of 0.70. The business has a fifty day simple moving average of $200.91 and a 200 day simple moving average of $185.34. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $224.15. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last released its quarterly 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 business had revenue of $15.77 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. On average, analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid 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 yield of 3.02%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.