Endowment Wealth Management Inc. Takes Position in International Business Machines Co. (NYSE:IBM)

14 Nov 2024, 18:11 by Kim Johansen · The Markets Daily

Endowment Wealth Management Inc. bought a new position in shares of International Business Machines Co. (NYSE:IBM – Free Report) in the third quarter, Holdings Channel.com reports. The institutional investor bought 965 shares of the technology company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingsview Wealth Management LLC raised its holdings in shares of International Business Machines by 9.3% during the first quarter. Kingsview Wealth Management LLC now owns 24,798 shares of the technology company’s stock worth $4,735,000 after purchasing an additional 2,111 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in International Business Machines by 1.2% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 11,137 shares of the technology company’s stock worth $2,127,000 after purchasing an additional 127 shares during the period. Searle & CO. raised its stake in shares of International Business Machines by 0.5% during the 1st quarter. Searle & CO. now owns 22,205 shares of the technology company’s stock valued at $4,240,000 after buying an additional 102 shares during the last quarter. Glaxis Capital Management LLC acquired a new position in shares of International Business Machines in the 1st quarter valued at about $382,000. Finally, Nwam LLC boosted its stake in shares of International Business Machines by 125.9% in the first quarter. Nwam LLC now owns 28,196 shares of the technology company’s stock worth $5,384,000 after buying an additional 15,716 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. The Goldman Sachs Group raised their price target 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. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. 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’s stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $208.12.

Get Our Latest Stock Analysis on International Business Machines

International Business Machines Stock Up 0.0 %

NYSE IBM opened at $210.91 on Thursday. The business has a fifty day moving average price of $218.58 and a 200 day moving average price of $193.11. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market cap of $195.02 billion, a P/E ratio of 30.70, a P/E/G ratio of 4.74 and a beta of 0.71. International Business Machines Co. has a one year low of $149.05 and a one year high of $237.37.

International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 earnings per share. Research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Profile

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