Leo Wealth LLC Purchases 539 Shares of International Business Machines Co. (NYSE:IBM)

Leo Wealth LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 2.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 19,550 shares of the technology company’s stock after buying an additional 539 shares during the quarter. Leo Wealth LLC’s holdings in International Business Machines were worth $4,322,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the 1st quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC boosted its stake in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc grew its holdings in shares of International Business Machines by 54.3% in the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock traded up $0.32 during trading hours on Tuesday, reaching $232.07. The company’s stock had a trading volume of 1,710,941 shares, compared to its average volume of 4,176,319. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The company has a market capitalization of $213.18 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 5.21 and a beta of 0.70. The firm’s 50 day simple moving average is $213.04 and its 200-day simple moving average is $189.45.

International Business Machines (NYSE:IBM) last issued its earnings results 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 return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued 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%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IBM. Bernstein Bank increased their price target on 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. BMO Capital Markets raised 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. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Evercore ISI boosted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada raised their target price 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. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price of $205.71.

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.