Delos Wealth Advisors LLC Makes New $640,000 Investment in International Business Machines Co. (NYSE:IBM)

Delos Wealth Advisors LLC purchased a new stake in International Business Machines Co. (NYSE:IBM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,700 shares of the technology company’s stock, valued at approximately $640,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines during the first quarter worth $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines in the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines during the 4th quarter valued at $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its position in International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.8 %

Shares of IBM stock opened at $217.70 on Friday. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $218.84. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock has a 50 day simple moving average of $196.52 and a two-hundred day simple moving average of $184.33. The company has a market cap of $199.98 billion, a P/E ratio of 24.65, a PEG ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (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 the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.18 EPS. Research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.07%. International Business Machines’s payout ratio is currently 75.65%.

Analyst Ratings Changes

Several research firms have commented on IBM. Jefferies Financial Group increased their target price on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. BMO Capital Markets raised their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group started coverage on shares of International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $188.60.

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.