International Business Machines Co. (NYSE:IBM) Shares Purchased by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. boosted its stake in International Business Machines Co. (NYSE:IBM) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,562 shares of the technology company’s stock after acquiring an additional 2,267 shares during the period. International Business Machines accounts for about 2.4% of Steigerwald Gordon & Koch Inc.’s holdings, making the stock its 18th biggest position. Steigerwald Gordon & Koch Inc.’s holdings in International Business Machines were worth $22,453,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines in the 2nd quarter valued at approximately $7,160,000. Hodges Capital Management Inc. lifted its stake in International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after buying an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY lifted its stake in International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares in the last quarter. Smith Thornton Advisors LLC purchased a new stake in International Business Machines in the 2nd quarter valued at approximately $702,000. Finally, GAMMA Investing LLC raised its holdings in International Business Machines by 42.4% in the 2nd quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock valued at $1,621,000 after acquiring an additional 2,788 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IBM shares. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group increased 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. Royal Bank of Canada raised their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Bernstein Bank raised their target price on International Business Machines from $185.00 to $210.00 and gave the company 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 issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $196.12.

International Business Machines Stock Performance

Shares of IBM traded down $1.08 during mid-day trading on Thursday, reaching $233.22. 933,821 shares of the company’s stock traded hands, compared to its average volume of 4,200,872. The business’s 50-day moving average price is $205.92 and its 200-day moving average price is $187.02. The stock has a market capitalization of $214.24 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $235.83.

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

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.86%. 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.