DMC Group LLC Increases Stake in International Business Machines Co. (NYSE:IBM)

DMC Group LLC boosted its stake in International Business Machines Co. (NYSE:IBM) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,195 shares of the technology company’s stock after buying an additional 72 shares during the quarter. DMC Group LLC’s holdings in International Business Machines were worth $706,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Salem Investment Counselors Inc. boosted its position in shares of International Business Machines by 2.0% during the first quarter. Salem Investment Counselors Inc. now owns 6,621 shares of the technology company’s stock valued at $1,264,000 after purchasing an additional 129 shares in the last quarter. Ballentine Partners LLC grew its position in shares of International Business Machines by 10.6% in the 1st quarter. Ballentine Partners LLC now owns 14,367 shares of the technology company’s stock worth $2,744,000 after buying an additional 1,381 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of International Business Machines in the 1st quarter worth about $136,000. CHICAGO TRUST Co NA boosted its stake in International Business Machines by 5.6% during the first quarter. CHICAGO TRUST Co NA now owns 9,025 shares of the technology company’s stock worth $1,723,000 after acquiring an additional 479 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in International Business Machines by 27.9% in the first quarter. AdvisorNet Financial Inc now owns 5,997 shares of the technology company’s stock worth $1,145,000 after purchasing an additional 1,309 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

IBM stock opened at $232.20 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $237.37. The company has a market cap of $213.30 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The stock’s fifty day moving average price is $212.19 and its 200-day moving average price is $189.15.

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, topping the consensus estimate 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 business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the firm posted $2.18 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IBM shares. Stifel Nicolaus lifted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $203.06.

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.