Beacon Financial Advisory LLC Grows Holdings in International Business Machines Co. (NYSE:IBM)

Beacon Financial Advisory LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.4% in the third quarter, Holdings Channel reports. The fund owned 5,456 shares of the technology company’s stock after purchasing an additional 76 shares during the period. Beacon Financial Advisory LLC’s holdings in International Business Machines were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of IBM. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the 1st quarter worth $26,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at $28,000. Hazlett Burt & Watson Inc. increased its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the second quarter worth $36,000. Finally, Wolff Wiese Magana LLC raised its position in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on IBM. Bank of America boosted their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Evercore ISI boosted their price target 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. Finally, DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Up 0.6 %

International Business Machines stock opened at $207.57 on Wednesday. The firm has a market capitalization of $191.93 billion, a P/E ratio of 30.21, a P/E/G ratio of 4.68 and a beta of 0.71. The company has a 50-day simple moving average of $217.19 and a 200-day simple moving average of $191.71. International Business Machines Co. has a one year low of $145.28 and a one year high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

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.