Phillips Wealth Planners LLC Has $899,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Phillips Wealth Planners LLC lifted its position in International Business Machines Co. (NYSE:IBM) by 126.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,849 shares of the technology company’s stock after acquiring an additional 2,150 shares during the period. International Business Machines makes up approximately 0.9% of Phillips Wealth Planners LLC’s holdings, making the stock its 28th biggest holding. Phillips Wealth Planners LLC’s holdings in International Business Machines were worth $899,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the 1st quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the 2nd quarter worth approximately $36,000. Wolff Wiese Magana LLC raised its holdings in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in International Business Machines by 47.2% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock worth $53,000 after buying an additional 77 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on IBM. Morgan Stanley dropped their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. 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, October 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Up 0.7 %

Shares of NYSE IBM opened at $208.22 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a market cap of $191.80 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 4.28 and a beta of 0.70. International Business Machines Co. has a 12 month low of $144.84 and a 12 month high of $237.37. The stock has a 50-day moving average price of $216.84 and a two-hundred day moving average price of $191.24.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 earnings per share. As a group, analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

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.