Surience Private Wealth LLC Invests $3.48 Million in International Business Machines Co. (NYSE:IBM)

Surience Private Wealth LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,730 shares of the technology company’s stock, valued at approximately $3,478,000. International Business Machines comprises 3.6% of Surience Private Wealth LLC’s investment portfolio, making the stock its 10th largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Ellenbecker Investment Group grew its position in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares in the last quarter. Castleview Partners LLC increased its stake in International Business Machines by 3.7% during the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock worth $336,000 after buying an additional 55 shares during the period. Armbruster Capital Management Inc. increased its stake in International Business Machines by 2.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after buying an additional 56 shares during the period. Aspect Partners LLC lifted its holdings in International Business Machines by 11.2% in the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock worth $122,000 after buying an additional 56 shares in the last quarter. Finally, Plimoth Trust Co. LLC boosted its position in International Business Machines by 0.3% in the 3rd quarter. Plimoth Trust Co. LLC now owns 16,782 shares of the technology company’s stock valued at $3,710,000 after buying an additional 56 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of IBM stock traded down $0.54 during midday trading on Tuesday, reaching $231.21. 546,019 shares of the company were exchanged, compared to its average volume of 4,170,609. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The company has a market cap of $212.39 billion, a P/E ratio of 26.18, a PEG ratio of 5.21 and a beta of 0.70. The company’s 50 day moving average price is $213.04 and its two-hundred day moving average price is $189.45. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 earnings per share. On average, sell-side analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

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. This represents a $6.68 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank of Canada lifted their target price on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. DZ Bank cut 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. Evercore ISI lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $205.71.

About International Business Machines

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.