Legacy Financial Advisors Inc. Has $1.10 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Legacy Financial Advisors Inc. raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,351 shares of the technology company’s stock after acquiring an additional 135 shares during the period. Legacy Financial Advisors Inc.’s holdings in International Business Machines were worth $1,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Arden Trust Co increased its stake in International Business Machines by 2.8% in 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 last quarter. Armbruster Capital Management Inc. increased its holdings in International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after buying an additional 56 shares during the last quarter. CVA Family Office LLC lifted its position in shares of 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 last quarter. Chicago Partners Investment Group LLC raised its position in shares of International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares during the period. Finally, Peddock Capital Advisors LLC raised its holdings 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 acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.7 %

Shares of IBM stock opened at $217.63 on Friday. The company has a market cap of $199.92 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock’s 50 day simple moving average is $196.52 and its two-hundred day simple moving average is $184.38. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $218.84.

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 analysts’ consensus estimates of $2.16 by $0.27. The firm 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%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.18 EPS. Research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

A number of brokerages recently weighed in on IBM. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. BMO Capital Markets upped 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. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group assumed coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. Finally, Stifel Nicolaus boosted their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $188.60.

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.