Northwest Investment Counselors LLC Buys Shares of 432 International Business Machines Co. (NYSE:IBM)

Northwest Investment Counselors LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 432 shares of the technology company’s stock, valued at approximately $96,000.

A number of other institutional investors have also modified their holdings of IBM. Gerber LLC purchased a new stake in International Business Machines in the 3rd quarter worth approximately $240,000. Berry Wealth Group LP purchased a new stake in shares of International Business Machines in the third quarter valued at $286,000. Wealth Effects LLC increased its stake in International Business Machines by 5.0% in the third quarter. Wealth Effects LLC now owns 14,711 shares of the technology company’s stock valued at $3,252,000 after purchasing an additional 700 shares during the last quarter. Castleview Partners LLC boosted its stake in International Business Machines by 3.7% in the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock worth $336,000 after buying an additional 55 shares during the last quarter. Finally, Cannon Financial Strategists Inc. purchased a new stake in International Business Machines in the 3rd quarter valued at about $221,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Morgan Stanley upped their price objective on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Bernstein Bank lifted their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Finally, Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $205.71.

International Business Machines Trading Down 0.2 %

NYSE IBM opened at $231.83 on Tuesday. The company’s fifty day simple moving average is $213.04 and its 200-day simple moving average is $189.45. The stock has a market cap of $212.96 billion, a P/E ratio of 26.25, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $237.37. 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 posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the company posted $2.18 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 yield of 2.88%. 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.