Goldstone Financial Group LLC Purchases New Stake in International Business Machines Co. (NYSE:IBM)

Goldstone Financial Group LLC acquired a new position in International Business Machines Co. (NYSE:IBM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,422 shares of the technology company’s stock, valued at approximately $535,000.

Other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC bought a new position in International Business Machines during the 1st quarter worth $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines during the 2nd quarter worth $36,000. Wolff Wiese Magana LLC lifted its stake in International Business Machines by 37.0% in the second 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 during the last quarter. Finally, Briaud Financial Planning Inc boosted its holdings in shares of International Business Machines by 54.3% during the second 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 during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 2.6 %

Shares of NYSE:IBM opened at $205.04 on Thursday. International Business Machines Co. has a 52 week low of $142.59 and a 52 week high of $237.37. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The company has a market cap of $188.35 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. The firm has a 50 day simple moving average of $216.38 and a 200 day simple moving average of $190.95.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the firm posted $2.20 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Co. will post 10.13 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 75.65%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IBM. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Bernstein Bank boosted their price target on 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock 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.