International Business Machines Co. (NYSE:IBM) Shares Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 12.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,072 shares of the technology company’s stock after acquiring an additional 997 shares during the period. Sierra Summit Advisors LLC’s holdings in International Business Machines were worth $1,569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of IBM. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the 1st quarter worth $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines during the first quarter worth about $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines in the fourth quarter valued at approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its stake in International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Royal Bank of Canada increased their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Evercore ISI increased their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $188.60.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $214.79 on Monday. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $216.09. The company has a 50-day moving average price of $192.83 and a 200 day moving average price of $183.37. The company has a market cap of $197.85 billion, a P/E ratio of 24.33, a PEG ratio of 4.67 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued 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 3.11%. International Business Machines’s dividend payout ratio is presently 75.65%.

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.