CHB Investment Group LLC Takes Position in International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

CHB Investment Group LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM – Free Report) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,166 shares of the technology company’s stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds have also made changes to their positions in IBM. Massmutual Trust Co. FSB ADV grew its stake in shares of International Business Machines by 1.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,580 shares of the technology company’s stock worth $1,257,000 after acquiring an additional 109 shares during the period. American National Bank raised its stake in International Business Machines by 18.6% during the 1st quarter. American National Bank now owns 3,749 shares of the technology company’s stock valued at $716,000 after buying an additional 588 shares during the last quarter. BCS Wealth Management bought a new position in shares of International Business Machines during the 1st quarter valued at $227,000. Park Avenue Securities LLC boosted its stake in shares of International Business Machines by 1.3% in the 1st quarter. Park Avenue Securities LLC now owns 20,213 shares of the technology company’s stock worth $3,860,000 after buying an additional 265 shares during the last quarter. Finally, Aprio Wealth Management LLC grew its holdings in shares of International Business Machines by 6.0% in the first quarter. Aprio Wealth Management LLC now owns 1,354 shares of the technology company’s stock worth $259,000 after acquiring an additional 77 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IBM shares. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley boosted their target price on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research report on Thursday. UBS Group upped their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Evercore ISI lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Stifel Nicolaus upped their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment 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, the company presently has an average rating of “Hold” and a consensus target price of $203.06.

Check Out Our Latest Research Report on IBM

International Business Machines Price Performance

Shares of NYSE:IBM opened at $231.63 on Friday. The firm has a market cap of $212.78 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. 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 fifty day moving average price of $211.38 and a 200 day moving average price of $188.85.

International Business Machines (NYSE:IBM – Get Free Report) last posted its 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. The company had revenue of $15.77 billion for 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 firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 earnings per share. As a group, sell-side analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

International Business Machines 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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