Opes Wealth Management LLC Acquires New Holdings in International Business Machines Co. (NYSE:IBM)

Opes Wealth Management LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 934 shares of the technology company’s stock, valued at approximately $206,000.

A number of other institutional investors also recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines in the second quarter worth about $7,160,000. Smith Thornton Advisors LLC acquired a new stake in shares of International Business Machines during the 2nd quarter worth approximately $702,000. Retirement Planning Group LLC purchased a new position in shares of International Business Machines during the 3rd quarter valued at approximately $618,000. GAMMA Investing LLC boosted its holdings in International Business Machines by 42.4% during the second quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock worth $1,621,000 after buying an additional 2,788 shares in the last quarter. Finally, Anderson Hoagland & Co. acquired a new stake in International Business Machines during the third quarter valued at $4,050,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.7 %

IBM opened at $208.25 on Monday. The business has a fifty day simple moving average of $216.84 and a 200-day simple moving average of $191.35. International Business Machines Co. has a 52 week low of $144.84 and a 52 week high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $192.56 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping 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 10.22% and a return on equity of 40.52%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. On average, equities analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.21%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IBM shares. Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Morgan Stanley decreased their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $208.12.

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.