Daymark Wealth Partners LLC Has $36.58 Million Position in International Business Machines Co. (NYSE:IBM)

Daymark Wealth Partners LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 17.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 211,491 shares of the technology company’s stock after acquiring an additional 30,969 shares during the period. International Business Machines accounts for 1.3% of Daymark Wealth Partners LLC’s portfolio, making the stock its 17th largest position. Daymark Wealth Partners LLC’s holdings in International Business Machines were worth $36,577,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in IBM. Arden Trust Co increased its holdings in International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the last quarter. Armbruster Capital Management Inc. increased its stake in International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after purchasing an additional 56 shares in the last quarter. CVA Family Office LLC boosted its position in shares of International Business Machines by 3.3% during the second 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 in the last quarter. Mill Creek Capital Advisors LLC grew its holdings in shares of International Business Machines by 5.1% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after buying an additional 57 shares during the period. Finally, Chicago Partners Investment Group LLC increased its position 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 buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBM. Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. BMO Capital Markets boosted their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Jefferies Financial Group increased their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada increased their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $188.60.

International Business Machines Stock Performance

IBM opened at $221.23 on Thursday. 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 business’s 50-day simple moving average is $197.98 and its 200 day simple moving average is $184.59. The firm has a market capitalization of $203.79 billion, a PE ratio of 25.05, a PEG ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $221.85.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.18 EPS. As a group, sell-side analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.02%. International Business Machines’s dividend payout ratio is presently 75.65%.

About International Business Machines

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.