Wealth Enhancement Advisory Services LLC Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Wealth Enhancement Advisory Services LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 9.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 779,468 shares of the technology company’s stock after acquiring an additional 68,760 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.08% of International Business Machines worth $172,320,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brookstone Capital Management raised its position in shares of International Business Machines by 1.6% during the 1st quarter. Brookstone Capital Management now owns 18,187 shares of the technology company’s stock worth $3,473,000 after purchasing an additional 289 shares during the period. OneAscent Financial Services LLC lifted its position in International Business Machines by 5.3% in the 1st quarter. OneAscent Financial Services LLC now owns 3,955 shares of the technology company’s stock valued at $755,000 after purchasing an additional 199 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of International Business Machines by 10.6% in the first quarter. Independence Bank of Kentucky now owns 3,055 shares of the technology company’s stock valued at $583,000 after purchasing an additional 292 shares during the period. Hodges Capital Management Inc. boosted its position in shares of International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after buying an additional 7,768 shares during the period. Finally, Trust Co. of Virginia VA acquired a new position in International Business Machines during the 1st quarter worth $218,000. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IBM shares. Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bernstein Bank raised their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

IBM stock traded down $3.72 during mid-day trading on Friday, reaching $214.67. 8,482,235 shares of the stock traded hands, compared to its average volume of 3,480,485. International Business Machines Co. has a 52 week low of $141.58 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. The firm has a market capitalization of $197.74 billion, a PE ratio of 23.66, a P/E/G ratio of 4.84 and a beta of 0.70. The business has a 50-day moving average of $215.58 and a two-hundred day moving average of $190.42.

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

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 3.11%. International Business Machines’s payout ratio is 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.