DiNuzzo Private Wealth Inc. Purchases 5,783 Shares of International Business Machines Co. (NYSE:IBM)

by · The Cerbat Gem

DiNuzzo Private Wealth Inc. boosted its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 4,589.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,909 shares of the technology company’s stock after purchasing an additional 5,783 shares during the period. DiNuzzo Private Wealth Inc.’s holdings in International Business Machines were worth $1,306,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines during the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines in the 2nd quarter valued at $36,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its stake in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Morgan Stanley lifted their price target on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $203.06.

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International Business Machines Stock Performance

Shares of NYSE IBM opened at $232.85 on Friday. The company has a market capitalization of $213.90 billion, a P/E ratio of 26.37, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a 50 day moving average of $211.38 and a 200-day moving average of $188.85. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the business earned $2.18 earnings per share. International Business Machines’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines Co. will post 10.1 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. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio is 75.65%.

International Business Machines Company Profile

(Free Report)

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.

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