International Business Machines Co. (NYSE:IBM) Shares Bought by Ignite Planners LLC

Ignite Planners LLC grew its position in shares of International Business Machines Co. (NYSE:IBM) by 16.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,314 shares of the technology company’s stock after purchasing an additional 460 shares during the period. Ignite Planners LLC’s holdings in International Business Machines were worth $733,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IBM. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the 1st quarter worth about $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the 1st quarter worth about $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines during the 4th quarter worth about $31,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the 2nd quarter worth about $36,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IBM. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Jefferies Financial Group raised their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group raised their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada raised their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $194.35.

International Business Machines Stock Up 0.5 %

IBM stock opened at $227.09 on Tuesday. 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 1-year low of $135.87 and a 1-year high of $227.67. The firm has a fifty day moving average price of $203.61 and a two-hundred day moving average price of $186.17. The firm has a market cap of $208.61 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 4.90 and a beta of 0.70.

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, topping the consensus estimate 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 net margin of 13.52% and a return on equity of 40.59%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.18 earnings per share. Research analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 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.