Crestwood Advisors Group LLC Acquires 111 Shares of International Business Machines Co. (NYSE:IBM)

Crestwood Advisors Group LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,072 shares of the technology company’s stock after purchasing an additional 111 shares during the quarter. Crestwood Advisors Group LLC’s holdings in International Business Machines were worth $2,607,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Arden Trust Co lifted its stake in International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after buying an additional 54 shares during the period. Armbruster Capital Management Inc. boosted its stake in International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after acquiring an additional 56 shares in the last quarter. CVA Family Office LLC grew its holdings in International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the period. Chicago Partners Investment Group LLC increased its stake in International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its holdings in shares of International Business Machines by 0.6% during the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $202.13 on Tuesday. The business has a 50 day moving average of $187.11 and a 200-day moving average of $182.03. The firm has a market cap of $186.19 billion, a PE ratio of 22.89, a P/E/G ratio of 4.50 and a beta of 0.71. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $202.17. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $2.18 EPS. As a group, sell-side analysts expect that International Business Machines Co. will post 10.09 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IBM. BMO Capital Markets boosted their target price on 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. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Jefferies Financial Group increased their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” 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. Finally, Stifel Nicolaus upped their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $184.93.

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.