RFG Advisory LLC Acquires 5,191 Shares of International Business Machines Co. (NYSE:IBM)

RFG Advisory LLC increased its holdings in International Business Machines Co. (NYSE:IBM) by 22.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,901 shares of the technology company’s stock after buying an additional 5,191 shares during the period. RFG Advisory LLC’s holdings in International Business Machines were worth $6,168,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in International Business Machines in the 1st quarter worth approximately $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the 1st quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter valued at $36,000. Financial Synergies Wealth Advisors Inc. raised its position in shares of International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its position 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 valued at $38,000 after buying an additional 60 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 0.4 %

Shares of IBM opened at $232.85 on Friday. The firm’s 50-day moving average price is $211.38 and its 200-day moving average price is $188.85. The firm has a market capitalization of $213.90 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 5.21 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last announced 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. 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 for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets lifted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Finally, Evercore ISI lifted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $203.06.

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.