Phillips Wealth Planners LLC Buys 2,150 Shares of International Business Machines Co. (NYSE:IBM)

Phillips Wealth Planners LLC boosted its stake in International Business Machines Co. (NYSE:IBM) by 126.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,849 shares of the technology company’s stock after acquiring an additional 2,150 shares during the period. International Business Machines accounts for 0.9% of Phillips Wealth Planners LLC’s portfolio, making the stock its 28th biggest position. Phillips Wealth Planners LLC’s holdings in International Business Machines were worth $899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of International Business Machines by 51.1% during the third quarter. Farther Finance Advisors LLC now owns 16,560 shares of the technology company’s stock worth $3,661,000 after purchasing an additional 5,597 shares during the period. Capital Advisors Inc. OK raised its position in shares of International Business Machines by 1.0% during the third quarter. Capital Advisors Inc. OK now owns 280,720 shares of the technology company’s stock worth $62,062,000 after purchasing an additional 2,699 shares during the period. Lowe Brockenbrough & Co. Inc. raised its position in shares of International Business Machines by 9.8% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 14,341 shares of the technology company’s stock worth $3,171,000 after purchasing an additional 1,278 shares during the period. Campbell Wealth Management acquired a new position in shares of International Business Machines during the third quarter worth approximately $375,000. Finally, Focus Financial Network Inc. raised its position in shares of International Business Machines by 3.2% during the third quarter. Focus Financial Network Inc. now owns 6,557 shares of the technology company’s stock worth $1,450,000 after purchasing an additional 206 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.7 %

IBM stock opened at $208.22 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market capitalization of $191.80 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 4.28 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $144.84 and a fifty-two week high of $237.37. The stock has a fifty day moving average of $216.84 and a 200-day moving average of $191.24.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping 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 company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.21%. International Business Machines’s dividend payout ratio is currently 97.23%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IBM shares. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group increased their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. 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. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $208.12.

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.