Syntegra Private Wealth Group LLC Has $1.25 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Syntegra Private Wealth Group LLC reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,651 shares of the technology company’s stock after selling 175 shares during the period. Syntegra Private Wealth Group LLC’s holdings in International Business Machines were worth $1,249,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD raised its position in International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans raised its position in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC raised its position in International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after acquiring an additional 468,567 shares during the period. Finally, Ameriprise Financial Inc. raised its position in International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after acquiring an additional 444,698 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 0.1 %

IBM traded up $0.21 during trading on Wednesday, reaching $232.46. The company had a trading volume of 666,938 shares, compared to its average volume of 4,166,371. The stock has a market cap of $213.54 billion, a P/E ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. The business has a 50 day simple moving average of $213.86 and a 200-day simple moving average of $189.75. International Business Machines Co. has a 52 week low of $136.05 and a 52 week high of $237.37. 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 released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $2.18 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.87%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IBM. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their target price on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. 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 research note on Wednesday, October 2nd. Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets lifted their target price on shares of 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $205.71.

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.