Sax Wealth Advisors LLC Boosts Stake in International Business Machines Co. (NYSE:IBM)

Sax Wealth Advisors LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,687 shares of the technology company’s stock after buying an additional 465 shares during the quarter. Sax Wealth Advisors LLC’s holdings in International Business Machines were worth $1,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IBM. Armbruster Capital Management Inc. raised its stake 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 purchasing an additional 56 shares in the last quarter. Aspect Partners LLC raised its stake in International Business Machines by 11.2% during the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after purchasing an additional 56 shares in the last quarter. CVA Family Office LLC raised its stake in International Business Machines by 3.3% during the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after purchasing an additional 57 shares in the last quarter. Mill Creek Capital Advisors LLC raised its stake in International Business Machines by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after purchasing an additional 57 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its stake in International Business Machines by 0.6% during the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IBM shares. Royal Bank of Canada upped their price target on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Morgan Stanley increased their target price on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday. BMO Capital Markets increased their target price on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $203.06.

International Business Machines Stock Down 0.2 %

Shares of International Business Machines stock opened at $232.46 on Friday. 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 Co. has a 1 year low of $135.87 and a 1 year high of $237.37. The firm’s 50-day moving average is $211.38 and its two-hundred day moving average is $188.85. The stock has a market cap of $213.54 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the business earned $2.18 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

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.