Smith Salley Wealth Management Buys 191 Shares of International Business Machines Co. (NYSE:IBM)

Smith Salley Wealth Management lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,173 shares of the technology company’s stock after acquiring an additional 191 shares during the quarter. Smith Salley Wealth Management’s holdings in International Business Machines were worth $2,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. DekaBank Deutsche Girozentrale boosted its position in shares of International Business Machines by 7.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,351,453 shares of the technology company’s stock worth $298,136,000 after purchasing an additional 98,516 shares during the period. Modera Wealth Management LLC lifted its stake in shares of International Business Machines by 14.9% during the 3rd quarter. Modera Wealth Management LLC now owns 22,414 shares of the technology company’s stock valued at $4,955,000 after buying an additional 2,915 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in International Business Machines by 0.6% in the 3rd quarter. GHP Investment Advisors Inc. now owns 77,663 shares of the technology company’s stock worth $17,170,000 after buying an additional 463 shares during the period. Benedict Financial Advisors Inc. increased its stake in International Business Machines by 51.8% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 4,467 shares of the technology company’s stock worth $988,000 after buying an additional 1,525 shares in the last quarter. Finally, Consolidated Portfolio Review Corp bought a new stake in International Business Machines during the third quarter valued at about $214,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IBM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Down 1.7 %

Shares of IBM stock opened at $214.67 on Friday. The company has a market cap of $197.74 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a 1 year low of $141.58 and a 1 year high of $237.37. The stock’s 50 day simple moving average is $215.58 and its two-hundred day simple moving average is $190.43. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 EPS. Research analysts predict that International Business Machines Co. will post 10.13 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 73.65%.

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.