Balboa Wealth Partners Acquires 910 Shares of International Business Machines Co. (NYSE:IBM)

Balboa Wealth Partners grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 59.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,430 shares of the technology company’s stock after buying an additional 910 shares during the period. Balboa Wealth Partners’ holdings in International Business Machines were worth $537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&G Plc purchased a new position in International Business Machines during the first quarter worth about $16,329,000. Mizuho Markets Americas LLC lifted its holdings in shares of International Business Machines by 81.7% during the 1st quarter. Mizuho Markets Americas LLC now owns 59,641 shares of the technology company’s stock worth $11,389,000 after acquiring an additional 26,816 shares during the last quarter. Towercrest Capital Management increased its stake in International Business Machines by 35.1% in the first quarter. Towercrest Capital Management now owns 2,586 shares of the technology company’s stock valued at $494,000 after acquiring an additional 672 shares during the last quarter. Te Ahumairangi Investment Management Ltd lifted its stake in International Business Machines by 6.6% during the first quarter. Te Ahumairangi Investment Management Ltd now owns 41,510 shares of the technology company’s stock worth $7,927,000 after purchasing an additional 2,555 shares during the last quarter. Finally, Clearstead Trust LLC raised its holdings in shares of International Business Machines by 1.8% during the 1st quarter. Clearstead Trust LLC now owns 9,850 shares of the technology company’s stock valued at $1,881,000 after buying an additional 178 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.9 %

Shares of International Business Machines stock opened at $209.01 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a twelve month low of $150.40 and a twelve month high of $237.37. The company has a market cap of $193.26 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The company’s 50 day moving average is $218.58 and its 200 day moving average is $193.11.

International Business Machines (NYSE:IBM) last released 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 firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business posted $2.20 EPS. Research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given 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 3.20%. International Business Machines’s payout ratio is presently 97.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IBM shares. 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. 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 note on Wednesday, October 9th. UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by insiders.

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.