Schoolcraft Capital LLC Acquires Shares of 984 International Business Machines Co. (NYSE:IBM)

Schoolcraft Capital LLC acquired a new position in International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 984 shares of the technology company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Arden Trust Co increased its position in shares of 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 purchasing an additional 54 shares during the last quarter. Armbruster Capital Management Inc. increased its position 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 valued at $432,000 after acquiring an additional 56 shares during the last quarter. CVA Family Office LLC raised its stake in shares of International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after acquiring an additional 57 shares during the period. Mill Creek Capital Advisors LLC lifted its holdings in shares of International Business Machines by 5.1% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock worth $201,000 after acquiring an additional 57 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in shares of 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 worth $1,309,000 after purchasing an additional 58 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.5 %

IBM traded up $1.12 during trading on Monday, hitting $227.12. The stock had a trading volume of 3,433,667 shares, compared to its average volume of 4,218,052. The stock has a 50 day simple moving average of $203.61 and a two-hundred day simple moving average of $186.17. 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 twelve month low of $135.87 and a twelve month high of $227.67. The company has a market capitalization of $208.63 billion, a PE ratio of 25.69, a PEG ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share 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 return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.18 EPS. On average, research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.94%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Jefferies Financial Group boosted their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $194.35.

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.