Howard Financial Services LTD. Increases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Howard Financial Services LTD. lifted its stake in International Business Machines Co. (NYSE:IBM) by 54.7% in the third quarter, Holdings Channel.com reports. The firm owned 4,584 shares of the technology company’s stock after buying an additional 1,620 shares during the period. Howard Financial Services LTD.’s holdings in International Business Machines were worth $1,013,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Seven Eight Capital LP purchased a new position in International Business Machines during the 4th quarter valued at $476,000. Cresset Asset Management LLC lifted its holdings in shares of International Business Machines by 0.8% in the 4th quarter. Cresset Asset Management LLC now owns 72,422 shares of the technology company’s stock worth $11,845,000 after buying an additional 558 shares during the period. Icon Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth $547,000. Northwest Wealth Management LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth $206,000. Finally, Ethic Inc. raised its position in shares of International Business Machines by 6.3% in the 4th quarter. Ethic Inc. now owns 126,504 shares of the technology company’s stock worth $20,690,000 after acquiring an additional 7,479 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. BMO Capital Markets raised their price target on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $194.35.

International Business Machines Stock Down 0.0 %

Shares of IBM opened at $228.60 on Wednesday. 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 firm has a market cap of $209.99 billion, a P/E ratio of 25.89, a PEG ratio of 4.90 and a beta of 0.70. The stock’s 50 day moving average is $205.08 and its two-hundred day moving average is $186.69. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $229.35.

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, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates 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 revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 EPS. Analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

International Business Machines 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.