Foster Victor Wealth Advisors LLC Buys 100 Shares of International Business Machines Co. (NYSE:IBM)

Foster Victor Wealth Advisors LLC raised its position in shares of International Business Machines Co. (NYSE:IBM) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,061 shares of the technology company’s stock after acquiring an additional 100 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in International Business Machines were worth $483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IBM. FPC Investment Advisory Inc. purchased a new stake in International Business Machines in the first quarter worth $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the 1st quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines in the 2nd quarter worth about $36,000. Financial Synergies Wealth Advisors Inc. increased its stake in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted its stake in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Bank of America lifted their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $200.82.

International Business Machines Price Performance

Shares of IBM opened at $233.64 on Thursday. The firm has a market cap of $214.62 billion, a PE ratio of 26.46, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm has a fifty day simple moving average of $210.57 and a two-hundred day simple moving average of $188.54.

International Business Machines (NYSE:IBM) last posted its 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. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given 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 yield of 2.86%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.