Peddock Capital Advisors LLC Purchases 200 Shares of International Business Machines Co. (NYSE:IBM)

Peddock Capital Advisors LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,240 shares of the technology company’s stock after acquiring an additional 200 shares during the quarter. Peddock Capital Advisors LLC’s holdings in International Business Machines were worth $2,264,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in International Business Machines in the first quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines in the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines in the fourth quarter valued at approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter valued at approximately $36,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 1.3 %

IBM traded up $2.91 during midday trading on Wednesday, hitting $231.53. The company had a trading volume of 1,099,386 shares, compared to its average volume of 4,197,195. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $231.67. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $212.68 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 4.90 and a beta of 0.70. The stock’s 50 day moving average price is $205.08 and its 200 day moving average price is $186.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.18 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is presently 75.65%.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. Royal Bank of Canada raised their target price on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Evercore ISI lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Stifel Nicolaus lifted their price target 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. Finally, UBS Group lifted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Three research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.