International Business Machines Co. (NYSE:IBM) Shares Bought by Meridian Financial Partners LLC

Meridian Financial Partners LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,926 shares of the technology company’s stock after purchasing an additional 85 shares during the quarter. Meridian Financial Partners LLC’s holdings in International Business Machines were worth $426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines during the first quarter valued at $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the first quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines during the second quarter valued at approximately $36,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its position in shares of International Business Machines by 37.0% during the second 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. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.3 %

International Business Machines stock opened at $232.22 on Friday. The company has a 50 day moving average price of $212.19 and a 200 day moving average price of $189.15. 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 $237.37. The firm has a market capitalization of $213.32 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is 75.65%.

Analyst Ratings Changes

Several brokerages have weighed in on IBM. Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Evercore ISI raised 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. Morgan Stanley upped their price target on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $203.06.

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.