REDW Wealth LLC Buys Shares of 1,009 International Business Machines Co. (NYSE:IBM)

REDW Wealth LLC bought a new stake in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, Holdings Channel.com reports. The fund bought 1,009 shares of the technology company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the first quarter worth $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the second quarter worth $36,000. Wolff Wiese Magana LLC increased its holdings in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Finally, Briaud Financial Planning Inc increased its holdings in shares of International Business Machines by 54.3% in the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after purchasing an additional 100 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IBM shares. Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Stifel Nicolaus upped their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. DZ Bank lowered 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 research report on Wednesday, October 2nd. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets upped their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

International Business Machines stock opened at $208.25 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a 50-day moving average of $216.84 and a 200-day moving average of $191.29. The firm has a market cap of $192.56 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71. International Business Machines Co. has a 1-year low of $144.84 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

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.