Cascade Investment Advisors Inc. Invests $210,000 in International Business Machines Co. (NYSE:IBM)

Cascade Investment Advisors Inc. purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 950 shares of the technology company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arden Trust Co grew its position 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 acquiring an additional 54 shares during the period. Armbruster Capital Management Inc. grew its position in shares of 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 valued at $432,000 after acquiring an additional 56 shares during the period. CVA Family Office LLC lifted its stake in shares of International Business Machines by 3.3% during the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after buying an additional 57 shares in the last quarter. Mill Creek Capital Advisors LLC lifted its stake in shares of International Business Machines by 5.1% during 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 in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in shares of International Business Machines by 0.8% during 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. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday. Finally, Royal Bank of Canada increased their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $193.38.

International Business Machines Trading Up 0.2 %

NYSE IBM opened at $219.68 on Thursday. The company’s 50-day moving average price is $202.31 and its 200-day moving average price is $185.78. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a market cap of $201.80 billion, a PE ratio of 24.88, a PEG ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $224.15.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. The company 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 firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.18 EPS. Equities research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio 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.