FMB Wealth Management Makes New $207,000 Investment in International Business Machines Co. (NYSE:IBM)

FMB Wealth Management bought a new stake in International Business Machines Co. (NYSE:IBM) in the third quarter, HoldingsChannel reports. The firm bought 934 shares of the technology company’s stock, valued at approximately $207,000.

Several other hedge funds also recently made changes to their positions in IBM. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines during the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC purchased a new position in International Business Machines during the third quarter valued at $5,117,000. Focused Wealth Management Inc grew its stake in shares of International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after acquiring an additional 3,887 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of International Business Machines by 4.5% in the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after purchasing an additional 6,004 shares during the last quarter. Finally, F M Investments LLC grew its position in International Business Machines by 39.6% during the 3rd quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock valued at $13,696,000 after purchasing an additional 17,554 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IBM shares. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Morgan Stanley dropped 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 report on Thursday, October 24th. Evercore ISI upped their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Bernstein Bank raised their target price 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Performance

NYSE:IBM opened at $213.72 on Friday. The stock has a 50-day moving average price of $218.02 and a 200 day moving average price of $192.24. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12-month low of $145.28 and a 12-month high of $237.37. The stock has a market capitalization of $197.62 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.80 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results 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. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 earnings per share. Equities research analysts forecast that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.13%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by corporate insiders.

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.