International Business Machines Co. (NYSE:IBM) Shares Purchased by Marcum Wealth LLC

Marcum Wealth LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 11.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,075 shares of the technology company’s stock after purchasing an additional 1,062 shares during the period. Marcum Wealth LLC’s holdings in International Business Machines were worth $2,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the 2nd quarter valued at approximately $36,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of 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 lifted their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $196.12.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $234.30 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 moving average price is $205.08 and its 200 day moving average price is $186.69. The company has a market cap of $215.23 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a one year low of $135.87 and a one year high of $234.95.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the company posted $2.18 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 dividend yield of 2.85%. International Business Machines’s dividend payout ratio is presently 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.