IRON Financial LLC Buys Shares of 1,034 International Business Machines Co. (NYSE:IBM)

IRON Financial LLC purchased a new stake in International Business Machines Co. (NYSE:IBM) in the third quarter, Holdings Channel.com reports. The fund purchased 1,034 shares of the technology company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ellenbecker Investment Group boosted its stake in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after acquiring an additional 46 shares in the last quarter. Goldstein Advisors LLC boosted its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 47 shares in the last quarter. Carret Asset Management LLC grew its holdings in International Business Machines by 0.3% in the third quarter. Carret Asset Management LLC now owns 19,400 shares of the technology company’s stock valued at $4,289,000 after purchasing an additional 51 shares during the last quarter. McAdam LLC increased its position in shares of International Business Machines by 1.5% in the third quarter. McAdam LLC now owns 3,570 shares of the technology company’s stock valued at $789,000 after buying an additional 52 shares in the last quarter. Finally, Castleview Partners LLC raised its stake in shares of International Business Machines by 3.7% during the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock worth $336,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. BMO Capital Markets increased their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Up 0.9 %

Shares of IBM stock traded up $1.92 during trading hours on Thursday, hitting $206.82. 1,505,010 shares of the company were exchanged, compared to its average volume of 4,254,118. International Business Machines Co. has a 1 year low of $142.59 and a 1 year high of $237.37. The firm has a fifty day moving average of $216.38 and a 200 day moving average of $190.95. The firm has a market cap of $189.99 billion, a PE ratio of 23.31, a PEG ratio of 4.84 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.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $2.20 EPS. Analysts expect that International Business Machines Co. will post 10.13 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.23%. International Business Machines’s dividend payout ratio is presently 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.