Bank of Stockton Purchases 293 Shares of International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

Bank of Stockton raised its holdings in International Business Machines Co. (NYSE:IBM – Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,813 shares of the technology company’s stock after buying an additional 293 shares during the quarter. Bank of Stockton’s holdings in International Business Machines were worth $1,064,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IBM. FPC Investment Advisory Inc. bought a new position in International Business Machines in the first quarter worth approximately $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the 1st quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the second quarter worth $36,000. Wolff Wiese Magana LLC grew its holdings in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc increased its position in shares of International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.3 %

Shares of IBM traded down $0.74 on Friday, reaching $217.65. The stock had a trading volume of 2,135,697 shares, compared to its average volume of 4,215,261. The firm has a market capitalization of $199.93 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a 50-day simple moving average of $215.16 and a 200-day simple moving average of $190.25. International Business Machines Co. has a 12-month low of $141.58 and a 12-month 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.

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

International Business Machines Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on IBM shares. Evercore ISI lifted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group lifted their target price on 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 increased their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Bank of America boosted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $208.12.

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International Business Machines Company Profile

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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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