Marcum Wealth LLC Purchases 1,062 Shares of International Business Machines Co. (NYSE:IBM)

Marcum Wealth LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 11.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,075 shares of the technology company’s stock after purchasing an additional 1,062 shares during the period. Marcum Wealth LLC’s holdings in International Business Machines were worth $2,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of IBM. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the first quarter worth $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines in the fourth quarter worth about $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the second quarter worth about $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Royal Bank of Canada raised their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI boosted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $196.12.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $234.30 on Thursday. The firm has a market capitalization of $215.23 billion, a P/E ratio of 26.53, a PEG ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $234.95. 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 50 day moving average price of $205.08 and a 200 day moving average price of $186.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping 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 business 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 for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

About International Business Machines

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.