Apella Capital LLC Has $1.05 Million Position in International Business Machines Co. (NYSE:IBM)

Apella Capital LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 16.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,799 shares of the technology company’s stock after buying an additional 667 shares during the period. Apella Capital LLC’s holdings in International Business Machines were worth $1,054,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC bought a new stake in International Business Machines during the second quarter worth $7,160,000. Mosley Wealth Management acquired a new stake in International Business Machines in the 4th quarter valued at about $312,000. Hodges Capital Management Inc. grew its holdings in International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after purchasing an additional 7,768 shares during the period. Burns J W & Co. Inc. NY increased its position in International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after buying an additional 250 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in International Business Machines in the fourth quarter valued at approximately $3,017,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $3.28 during 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 quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $226.08. The firm has a market capitalization of $207.60 billion, a PE ratio of 25.59, a PEG ratio of 4.90 and a beta of 0.70. The company’s 50 day moving average is $203.61 and its two-hundred day moving average is $186.27.

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

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given 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 yield of 2.96%. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IBM shares. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday. Royal Bank of Canada raised their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. BMO Capital Markets upped 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. Finally, Stifel Nicolaus raised their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $194.35.

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.