Ridgecrest Wealth Partners LLC Raises Holdings in International Business Machines Co. (NYSE:IBM)

Ridgecrest Wealth Partners LLC boosted its stake in International Business Machines Co. (NYSE:IBM) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,545 shares of the technology company’s stock after purchasing an additional 119 shares during the period. International Business Machines comprises 1.1% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 20th largest position. Ridgecrest Wealth Partners LLC’s holdings in International Business Machines were worth $2,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the period. International Assets Investment Management LLC raised its position in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans grew its position in shares of International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its stake 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 buying an additional 468,567 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, 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 note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 0.0 %

Shares of IBM stock opened at $213.72 on Monday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market cap of $197.62 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a 1 year low of $145.28 and a 1 year high of $237.37. The firm has a fifty day moving average price of $218.02 and a 200-day moving average price of $192.31.

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, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

International Business Machines Company 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.