San Luis Wealth Advisors LLC Boosts Holdings in International Business Machines Co. (NYSE:IBM)

San Luis Wealth Advisors LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 11.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,647 shares of the technology company’s stock after purchasing an additional 696 shares during the period. San Luis Wealth Advisors LLC’s holdings in International Business Machines were worth $1,470,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cerro Pacific Wealth Advisors LLC increased its holdings in International Business Machines by 14.9% during the 3rd quarter. Cerro Pacific Wealth Advisors LLC now owns 2,338 shares of the technology company’s stock valued at $517,000 after acquiring an additional 303 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of International Business Machines during the third quarter worth about $519,000. Strategic Advisors LLC grew its holdings in shares of International Business Machines by 0.3% during the third quarter. Strategic Advisors LLC now owns 19,462 shares of the technology company’s stock worth $4,303,000 after buying an additional 65 shares in the last quarter. Quotient Wealth Partners LLC grew its holdings in shares of International Business Machines by 4.8% during the third quarter. Quotient Wealth Partners LLC now owns 3,982 shares of the technology company’s stock worth $880,000 after buying an additional 181 shares in the last quarter. Finally, Northwest Bank & Trust Co grew its holdings in shares of International Business Machines by 1.3% during the third quarter. Northwest Bank & Trust Co now owns 4,698 shares of the technology company’s stock worth $1,039,000 after buying an additional 60 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.5 %

NYSE IBM opened at $233.05 on Friday. The company’s fifty day simple moving average is $206.79 and its 200-day simple moving average is $187.34. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $235.83. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a market cap of $214.67 billion, a P/E ratio of 25.69, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 13.52% and a return on equity of 40.59%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio (DPR) is presently 73.65%.

Analyst Ratings Changes

A number of brokerages have recently commented on IBM. Stifel Nicolaus lifted their price target 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. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Royal Bank of Canada boosted their target price on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. 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 has an average rating of “Hold” and an average target price of $198.41.

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.