KMG Fiduciary Partners LLC Grows Holdings in International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

KMG Fiduciary Partners LLC lifted its holdings in International Business Machines Co. (NYSE:IBM – Free Report) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,361 shares of the technology company’s stock after purchasing an additional 133 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in International Business Machines were worth $6,933,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in 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 valued at $3,860,000 after buying an additional 265 shares during the last quarter. RFG Advisory LLC grew its stake in shares of International Business Machines by 3.0% during the first quarter. RFG Advisory LLC now owns 21,897 shares of the technology company’s stock worth $4,181,000 after purchasing an additional 631 shares during the period. O Keefe Stevens Advisory Inc. acquired a new position in International Business Machines in the first quarter valued at about $212,000. Paragon Capital Management Ltd acquired a new position in shares of International Business Machines during the first quarter worth about $245,000. Finally, Salem Investment Counselors Inc. raised its stake in International Business Machines by 2.0% in the first quarter. Salem Investment Counselors Inc. now owns 6,621 shares of the technology company’s stock valued at $1,264,000 after buying an additional 129 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Bank of America increased their price target 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. Royal Bank of Canada boosted their target price on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. BMO Capital Markets boosted their target price on shares of 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. Finally, Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $203.06.

View Our Latest Research Report on International Business Machines

International Business Machines Trading Down 0.3 %

IBM stock opened at $232.22 on Friday. The business has a fifty day moving average price of $212.19 and a 200 day moving average price of $189.15. The stock has a market capitalization of $213.32 billion, a price-to-earnings ratio of 26.30, 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 current ratio of 1.12 and a quick ratio of 1.08.

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, beating analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.18 earnings per share. Analysts expect that International Business Machines Co. will post 10.1 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. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. International Business Machines’s 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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