ProVise Management Group LLC Increases Position in International Business Machines Co. (NYSE:IBM)

ProVise Management Group LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 2.3% in the second quarter, HoldingsChannel reports. The firm owned 3,305 shares of the technology company’s stock after purchasing an additional 74 shares during the period. ProVise Management Group LLC’s holdings in International Business Machines were worth $572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arden Trust Co boosted its stake in shares of International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after buying an additional 54 shares during the last quarter. Armbruster Capital Management Inc. grew its holdings in International Business Machines by 2.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after acquiring an additional 56 shares in the last quarter. CVA Family Office LLC increased its position in shares of International Business Machines by 3.3% in the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares in the last quarter. Finally, Peddock Capital Advisors LLC lifted its position in shares of International Business Machines by 0.6% during the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IBM shares. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price 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. Jefferies Financial Group increased their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Performance

Shares of IBM stock opened at $213.89 on Friday. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $218.84. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market capitalization of $196.48 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The business has a 50 day simple moving average of $195.83 and a 200 day simple moving average of $184.21.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $2.18 earnings per share. On average, equities research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.12%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.