Triton Wealth Management PLLC Invests $228,000 in International Business Machines Co. (NYSE:IBM)

Triton Wealth Management PLLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,036 shares of the technology company’s stock, valued at approximately $228,000.

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

International Business Machines Trading Up 1.5 %

IBM stock traded up $3.28 during midday trading on Friday, reaching $226.00. The company’s stock had a trading volume of 3,554,328 shares, compared to its average volume of 4,222,131. The firm has a market capitalization of $207.60 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $226.08. 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 stock has a fifty day simple moving average of $203.61 and a two-hundred day simple moving average of $186.27.

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

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective 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. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday. Jefferies Financial Group upped their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Bernstein Bank upped their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday. 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. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $194.35.

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.