Heritage Financial Services LLC Has $1.04 Million Stock Position in International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

Heritage Financial Services LLC grew its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,688 shares of the technology company’s stock after purchasing an additional 468 shares during the quarter. Heritage Financial Services LLC’s holdings in International Business Machines were worth $1,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. International Assets Investment Management LLC increased its stake in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of International Business Machines by 151.6% during 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 purchasing an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in shares of International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.5 %

Shares of IBM stock opened at $217.40 on Friday. The business has a 50-day moving average of $214.67 and a 200 day moving average of $190.05. 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 Co. has a 1-year low of $141.58 and a 1-year high of $237.37. The stock has a market capitalization of $199.70 billion, a PE ratio of 24.72, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research reports. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley dropped their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $208.12.

View Our Latest Stock Report on International Business Machines

About International Business Machines

(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.

Recommended Stories