Old North State Trust LLC Buys 100 Shares of International Business Machines Co. (NYSE:IBM)

Old North State Trust LLC lifted its position in International Business Machines Co. (NYSE:IBM) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,874 shares of the technology company’s stock after buying an additional 100 shares during the quarter. Old North State Trust LLC’s holdings in International Business Machines were worth $670,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IBM. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC bought a new position in International Business Machines during the first quarter worth $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at about $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines during the 2nd quarter worth about $36,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada increased their target price on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group raised their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $188.60.

International Business Machines Stock Down 1.2 %

Shares of IBM opened at $220.84 on Monday. The stock’s 50-day moving average price is $200.17 and its two-hundred day moving average price is $185.15. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $224.15. The company has a market capitalization of $202.86 billion, a PE ratio of 25.01, a PEG ratio of 4.90 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

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 business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.18 earnings per share. On average, analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued 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 currently 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.