Sterling Manor Financial LLC Invests $217,000 in International Business Machines Co. (NYSE:IBM)

Sterling Manor Financial LLC bought a new stake in International Business Machines Co. (NYSE:IBM) during the third quarter, HoldingsChannel.com reports. The fund bought 981 shares of the technology company’s stock, valued at approximately $217,000. International Business Machines comprises 0.1% of Sterling Manor Financial LLC’s investment portfolio, making the stock its 27th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of International Business Machines by 151.6% in 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 buying an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in International Business Machines by 306.3% during 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 in the last quarter. Finally, Strategic Financial Concepts LLC increased its position in International Business Machines by 12,282.2% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IBM shares. UBS Group boosted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Down 0.7 %

Shares of NYSE:IBM traded down $1.56 during mid-day trading on Monday, reaching $213.11. 1,826,248 shares of the stock were exchanged, compared to its average volume of 4,234,288. International Business Machines Co. has a one year low of $142.58 and a one year high of $237.37. The stock’s 50 day simple moving average is $215.58 and its 200-day simple moving average is $190.46. The company has a market cap of $196.31 billion, a P/E ratio of 23.53, a P/E/G ratio of 4.84 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating 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 company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the company earned $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Co. will post 10.13 EPS for the current year.

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.