International Business Machines Co. (NYSE:IBM) Shares Purchased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC raised its position in shares of International Business Machines Co. (NYSE:IBM) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 213,018 shares of the technology company’s stock after purchasing an additional 1,527 shares during the quarter. International Business Machines comprises 1.6% of Daymark Wealth Partners LLC’s portfolio, making the stock its 17th largest holding. Daymark Wealth Partners LLC’s holdings in International Business Machines were worth $47,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of IBM. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the first quarter worth approximately $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines in the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines during the 4th quarter valued at $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines during the 2nd quarter worth $36,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $3.06 during midday trading on Wednesday, hitting $231.68. 1,202,787 shares of the company were exchanged, compared to its average volume of 4,197,725. The firm has a 50 day simple moving average of $205.08 and a 200-day simple moving average of $186.69. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $231.69. The firm has a market cap of $212.82 billion, a P/E ratio of 26.22, a PEG ratio of 4.90 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.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned $2.18 EPS. Research analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IBM. Royal Bank of Canada upped their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a 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 report on Thursday, July 25th. Jefferies Financial Group boosted their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group raised their price objective 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. Finally, Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $194.35.

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.