Redhawk Wealth Advisors Inc. Takes $218,000 Position in International Business Machines Co. (NYSE:IBM)

Redhawk Wealth Advisors Inc. acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 988 shares of the technology company’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in IBM. Vanguard Group Inc. raised its position in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Legal & General Group Plc raised its position in International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. raised its position in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares during the period. Dimensional Fund Advisors LP raised its position in International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in International Business Machines by 151.6% in the 1st 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. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.0 %

Shares of IBM opened at $233.00 on Wednesday. The firm’s 50-day moving average price is $209.64 and its 200-day moving average price is $188.23. The firm has a market capitalization of $214.03 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 5.21 and a beta of 0.70. 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 Co. has a 1-year low of $135.87 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping 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 business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm posted $2.18 earnings per share. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts anticipate 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 paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IBM. Jefferies Financial Group lifted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Evercore ISI boosted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have given 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 $198.41.

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.