Trueblood Wealth Management LLC Acquires 100 Shares of International Business Machines Co. (NYSE:IBM)

Trueblood Wealth Management LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,768 shares of the technology company’s stock after acquiring an additional 100 shares during the quarter. Trueblood Wealth Management LLC’s holdings in International Business Machines were worth $612,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new position in International Business Machines during the 1st quarter worth $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the 2nd quarter worth $36,000. Wolff Wiese Magana LLC raised 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 valued at $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc lifted its position in shares of International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IBM. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday. Three 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

NYSE:IBM opened at $214.57 on Friday. International Business Machines Co. has a 52-week low of $141.58 and a 52-week high of $237.37. The business’s fifty day moving average is $215.58 and its 200 day moving average is $190.42. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market cap of $197.65 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 earnings per share. Research analysts predict that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Dividend Announcement

The company 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 annualized dividend and a dividend yield of 3.11%. International Business Machines’s payout ratio is currently 73.65%.

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.