Well Done LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Well Done LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBMFree Report) during the third quarter, Holdings Channel.com reports. The firm purchased 1,039 shares of the technology company’s stock, valued at approximately $230,000.

A number of other large investors have also made changes to their positions in IBM. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after acquiring an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $1.37 during mid-day trading on Friday, reaching $231.51. 554,961 shares of the stock were exchanged, compared to its average volume of 4,175,073. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The firm has a 50-day simple moving average of $211.38 and a 200 day simple moving average of $188.85. 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 company has a market cap of $212.67 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBMGet Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping 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 prior year, the firm earned $2.18 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Morgan Stanley upped their price objective on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $203.06.

View Our Latest Stock Analysis on IBM

International Business Machines Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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