Abich Financial Wealth Management LLC Has $264,000 Position in International Business Machines Co. (NYSE:IBM)

Abich Financial Wealth Management LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 37.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,527 shares of the technology company’s stock after purchasing an additional 414 shares during the period. International Business Machines accounts for about 0.2% of Abich Financial Wealth Management LLC’s portfolio, making the stock its 25th biggest position. Abich Financial Wealth Management LLC’s holdings in International Business Machines were worth $264,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans grew its position in International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC increased its stake in International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after purchasing an additional 468,567 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in International Business Machines by 79.4% during the first quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock worth $176,160,000 after buying an additional 408,230 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.3 %

International Business Machines stock opened at $221.11 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $203.68 billion, a P/E ratio of 25.04, a P/E/G ratio of 4.90 and a beta of 0.70. The firm has a 50 day moving average price of $197.98 and a 200-day moving average price of $184.59. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $221.19.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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. The business 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%. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 earnings per share. As a group, equities analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed 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 3.02%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Royal Bank of Canada increased their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. BMO Capital Markets lifted 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. Jefferies Financial Group upped their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $188.60.

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.