DMC Group LLC Buys 72 Shares of International Business Machines Co. (NYSE:IBM)

DMC Group LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,195 shares of the technology company’s stock after buying an additional 72 shares during the period. DMC Group LLC’s holdings in International Business Machines were worth $706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Salem Investment Counselors Inc. increased its holdings in shares of International Business Machines by 2.0% in the first quarter. Salem Investment Counselors Inc. now owns 6,621 shares of the technology company’s stock worth $1,264,000 after purchasing an additional 129 shares during the period. Ballentine Partners LLC raised its holdings in shares of International Business Machines by 10.6% in the 1st quarter. Ballentine Partners LLC now owns 14,367 shares of the technology company’s stock valued at $2,744,000 after acquiring an additional 1,381 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of International Business Machines during the 1st quarter valued at about $136,000. CHICAGO TRUST Co NA grew its holdings in shares of International Business Machines by 5.6% during the first quarter. CHICAGO TRUST Co NA now owns 9,025 shares of the technology company’s stock worth $1,723,000 after purchasing an additional 479 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of International Business Machines by 27.9% in the first quarter. AdvisorNet Financial Inc now owns 5,997 shares of the technology company’s stock worth $1,145,000 after purchasing an additional 1,309 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IBM shares. Jefferies Financial Group boosted their price target on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Finally, Bernstein Bank raised their price objective 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 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $203.06.

International Business Machines Trading Down 0.3 %

NYSE:IBM opened at $232.20 on Friday. The firm has a market capitalization of $213.30 billion, a P/E ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. 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 fifty day moving average of $212.19 and a 200 day moving average of $189.15. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS 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 prior year, the firm posted $2.18 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.1 earnings per share 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.