International Business Machines Co. (NYSE:IBM) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its stake in International Business Machines Co. (NYSE:IBM) by 11.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,924 shares of the technology company’s stock after purchasing an additional 843 shares during the period. Summit Trail Advisors LLC’s holdings in International Business Machines were worth $1,370,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IBM. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines in the first quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the first quarter worth $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines during the fourth quarter worth $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its holdings in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $217.70 on Friday. The business’s 50-day moving average price is $196.52 and its 200 day moving average price is $184.33. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $218.84. The company has a market capitalization of $199.98 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 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 announced 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 company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 earnings per share. On average, 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. Stockholders 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 dividend yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IBM. The Goldman Sachs Group began coverage on International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective on the stock. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their target price on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI boosted 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. Finally, UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target 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.