Triton Wealth Management PLLC Acquires New Holdings in International Business Machines Co. (NYSE:IBM)

Triton Wealth Management PLLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,036 shares of the technology company’s stock, valued at approximately $228,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. Legal & General Group Plc lifted its position in International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. lifted its position in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in International Business Machines by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after purchasing an additional 304,390 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on IBM shares. Evercore ISI lifted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. UBS Group boosted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada boosted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $194.35.

International Business Machines Trading Up 1.5 %

International Business Machines stock traded up $3.28 during mid-day trading on Friday, reaching $226.00. 3,554,328 shares of the company traded hands, compared to its average volume of 4,222,131. 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’s 50 day moving average price is $203.61 and its 200 day moving average price is $186.27. The firm has a market capitalization of $207.60 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $226.08.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) 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 net margin of 13.52% and a return on equity of 40.59%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.18 EPS. On average, analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 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.