Mitchell & Pahl Private Wealth LLC Purchases New Stake in International Business Machines Co. (NYSE:IBM)

Mitchell & Pahl Private Wealth LLC purchased a new stake in International Business Machines Co. (NYSE:IBM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,178 shares of the technology company’s stock, valued at approximately $260,000.

A number of other institutional investors have also recently modified their holdings of the business. Syon Capital LLC purchased a new stake in International Business Machines during the fourth quarter worth $220,000. Massmutual Trust Co. FSB ADV boosted its position in International Business Machines by 1.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 6,580 shares of the technology company’s stock worth $1,257,000 after purchasing an additional 109 shares in the last quarter. Foster Group Inc. lifted its position in shares of International Business Machines by 6.4% in the first quarter. Foster Group Inc. now owns 1,863 shares of the technology company’s stock valued at $356,000 after acquiring an additional 112 shares in the last quarter. Signal Advisors Wealth LLC lifted its position in shares of International Business Machines by 4.0% in the first quarter. Signal Advisors Wealth LLC now owns 2,557 shares of the technology company’s stock valued at $488,000 after acquiring an additional 99 shares in the last quarter. Finally, Walker Asset Management LLC purchased a new stake in shares of International Business Machines in the first quarter valued at $224,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.4 %

NYSE IBM traded down $0.93 during mid-day trading on Thursday, reaching $232.74. 1,181,490 shares of the company’s stock traded hands, compared to its average volume of 4,173,887. 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 fifty day simple moving average of $210.57 and a 200-day simple moving average of $188.54. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The company has a market cap of $213.80 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the business posted $2.18 EPS. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $203.06.

International Business Machines Profile

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.