Portside Wealth Group LLC Boosts Holdings in International Business Machines Co. (NYSE:IBM)

Portside Wealth Group LLC grew its position in shares of International Business Machines Co. (NYSE:IBM) by 8.2% in the third quarter, Holdings Channel reports. The firm owned 12,907 shares of the technology company’s stock after purchasing an additional 973 shares during the period. Portside Wealth Group LLC’s holdings in International Business Machines were worth $2,853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. raised its holdings in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC purchased a new position in shares of International Business Machines during the third quarter worth about $29,000. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the first quarter worth approximately $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the first quarter valued at approximately $28,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. BMO Capital Markets increased their target price 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, Morgan Stanley reduced their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Up 0.1 %

NYSE:IBM opened at $213.76 on Friday. International Business Machines Co. has a 1-year low of $145.28 and a 1-year high of $237.37. The firm’s 50-day moving average price is $217.49 and its 200-day moving average price is $191.86. The company has a market capitalization of $197.65 billion, a PE ratio of 31.11, a P/E/G ratio of 4.64 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

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

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

International Business Machines Company 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.