Brighton Jones LLC Has $3.07 Million Stake in International Business Machines Co. (NYSE:IBM)

Brighton Jones LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,766 shares of the technology company’s stock after purchasing an additional 260 shares during the period. Brighton Jones LLC’s holdings in International Business Machines were worth $3,073,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arden Trust Co boosted its position in International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after buying an additional 54 shares during the period. Armbruster Capital Management Inc. boosted its position in International Business Machines by 2.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after buying an additional 56 shares during the period. CVA Family Office LLC boosted its position in International Business Machines by 3.3% during the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after buying an additional 57 shares during the period. Chicago Partners Investment Group LLC boosted its position in International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after buying an additional 58 shares during the period. Finally, Peddock Capital Advisors LLC boosted its position in International Business Machines by 0.6% during the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after buying an additional 58 shares during the period. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBM has been the subject of several analyst reports. UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Jefferies Financial Group increased their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. BMO Capital Markets raised their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their target price 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. Finally, The Goldman Sachs Group initiated coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $188.60.

International Business Machines Trading Down 0.5 %

Shares of NYSE IBM opened at $213.89 on Friday. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $218.84. The stock has a market cap of $196.48 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The firm has a 50-day moving average of $195.83 and a 200 day moving average of $184.21. 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 (NYSE:IBM) last issued its quarterly earnings results 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. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the company posted $2.18 EPS. International Business Machines’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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 dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.12%. International Business Machines’s dividend payout ratio is currently 75.65%.

About International Business Machines

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.