Howard Financial Services LTD. Buys 1,620 Shares of International Business Machines Co. (NYSE:IBM)

Howard Financial Services LTD. grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 54.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,584 shares of the technology company’s stock after acquiring an additional 1,620 shares during the quarter. Howard Financial Services LTD.’s holdings in International Business Machines were worth $1,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gill Capital Partners LLC purchased a new stake in shares of International Business Machines during the third quarter valued at $240,000. Hoxton Planning & Management LLC boosted its position in shares of International Business Machines by 5.5% during the third quarter. Hoxton Planning & Management LLC now owns 5,210 shares of the technology company’s stock valued at $1,152,000 after buying an additional 273 shares during the last quarter. Marquette Asset Management LLC boosted its position in shares of International Business Machines by 12.0% during the third quarter. Marquette Asset Management LLC now owns 849 shares of the technology company’s stock valued at $188,000 after buying an additional 91 shares during the last quarter. Brookstone Capital Management boosted its position in shares of International Business Machines by 1.3% during the third quarter. Brookstone Capital Management now owns 16,548 shares of the technology company’s stock valued at $3,658,000 after buying an additional 210 shares during the last quarter. Finally, Olistico Wealth LLC boosted its position in shares of International Business Machines by 45.3% during the third quarter. Olistico Wealth LLC now owns 3,290 shares of the technology company’s stock valued at $727,000 after buying an additional 1,025 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.0 %

Shares of IBM opened at $228.60 on Wednesday. The business’s 50 day moving average is $205.08 and its 200 day moving average is $186.69. The company has a market capitalization of $209.99 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $229.35. 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 issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the company earned $2.18 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal 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 paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Jefferies Financial Group raised their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Finally, Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.