Onyx Bridge Wealth Group LLC Has $1.88 Million Position in International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

Onyx Bridge Wealth Group LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,504 shares of the technology company’s stock after selling 106 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in International Business Machines were worth $1,880,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans raised its stake in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after acquiring an additional 468,567 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $232.85 on Friday. 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 company has a 50 day simple moving average of $211.38 and a two-hundred day simple 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. The stock has a market cap of $213.90 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM – Get Free Report) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the firm posted $2.18 earnings per share. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analysts Set New Price Targets

IBM has been the topic of several research reports. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. 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. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. UBS Group raised their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley raised their price target 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. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $203.06.

Read Our Latest Report on International Business Machines

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.

Further Reading

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM – Free Report).