Luts & Greenleigh Group Inc. Buys Shares of 1,165 International Business Machines Co. (NYSE:IBM)

Luts & Greenleigh Group Inc. bought a new stake in International Business Machines Co. (NYSE:IBM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,165 shares of the technology company’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Mosley Wealth Management acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $312,000. Hodges Capital Management Inc. boosted its stake in shares of International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after purchasing an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY boosted its stake in shares of International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after purchasing an additional 250 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $3,017,000. Finally, Westwood Holdings Group Inc. boosted its stake in shares of International Business Machines by 19.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock valued at $18,861,000 after purchasing an additional 19,175 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IBM shares. Evercore ISI lifted their price objective 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. Royal Bank of Canada boosted their price target on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Stifel Nicolaus boosted their price target on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group boosted their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Performance

Shares of IBM opened at $217.18 on Tuesday. The stock’s 50-day simple moving average is $193.62 and its 200 day simple moving average is $183.60. The stock has a market capitalization of $200.06 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $217.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 EPS. Research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.08%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.