Evernest Financial Advisors LLC Boosts Stake in International Business Machines Co. (NYSE:IBM)

Evernest Financial Advisors LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,547 shares of the technology company’s stock after acquiring an additional 58 shares during the period. Evernest Financial Advisors LLC’s holdings in International Business Machines were worth $267,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IBM. Gilbert & Cook Inc. grew its holdings in International Business Machines by 2.7% in the 4th quarter. Gilbert & Cook Inc. now owns 3,892 shares of the technology company’s stock valued at $637,000 after buying an additional 101 shares in the last quarter. Aveo Capital Partners LLC boosted its holdings in International Business Machines by 3.6% during the 4th quarter. Aveo Capital Partners LLC now owns 3,101 shares of the technology company’s stock valued at $507,000 after acquiring an additional 109 shares during the period. Gryphon Financial Partners LLC grew its position in International Business Machines by 6.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,394 shares of the technology company’s stock valued at $386,000 after acquiring an additional 147 shares in the last quarter. Versor Investments LP purchased a new stake in International Business Machines during the fourth quarter worth about $247,000. Finally, Avantax Advisory Services Inc. boosted its stake in shares of International Business Machines by 5.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 50,957 shares of the technology company’s stock valued at $8,334,000 after purchasing an additional 2,735 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $205.32 on Wednesday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company has a market cap of $189.13 billion, a PE ratio of 23.25, a P/E/G ratio of 4.47 and a beta of 0.70. The stock has a fifty day moving average price of $190.65 and a 200 day moving average price of $182.80. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $205.95.

International Business Machines (NYSE:IBM) last issued its 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. The business 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 business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 10.1 EPS for the current 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 paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research reports. UBS Group increased their target price 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. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. Jefferies Financial Group upped their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Stifel Nicolaus lifted their price objective on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three investment 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $185.93.

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.