Sunpointe LLC Takes $231,000 Position in International Business Machines Co. (NYSE:IBM)

by · The Cerbat Gem

Sunpointe LLC purchased a new stake in International Business Machines Co. (NYSE:IBM – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,044 shares of the technology company’s stock, valued at approximately $231,000.

A number of other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the first quarter worth about $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines during the fourth quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the second quarter valued at approximately $36,000. Finally, Financial Synergies Wealth Advisors Inc. raised 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 valued at $38,000 after buying an additional 123 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IBM shares. Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group increased their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $198.41.

Get Our Latest Analysis on IBM

International Business Machines Price Performance

Shares of IBM traded down $0.57 during trading hours on Wednesday, reaching $232.39. The stock had a trading volume of 168,126 shares, compared to its average volume of 4,175,324. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37. The stock has a market capitalization of $213.47 billion, a PE ratio of 26.39, a PEG ratio of 5.21 and a beta of 0.70. 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 company’s 50-day moving average is $209.64 and its two-hundred day moving average is $188.23.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The company 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%. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 EPS. Research analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced 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. This represents a $6.68 annualized dividend and a yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 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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