Global Retirement Partners LLC Boosts Holdings in International Business Machines Co. (NYSE:IBM)

Global Retirement Partners LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,376 shares of the technology company’s stock after buying an additional 1,539 shares during the period. Global Retirement Partners LLC’s holdings in International Business Machines were worth $5,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines in the 1st quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the 2nd quarter worth about $36,000. Financial Synergies Wealth Advisors Inc. grew its holdings in International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its stake 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 worth $38,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of several analyst reports. Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Morgan Stanley boosted their price target on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday. Bernstein Bank raised their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $203.06.

International Business Machines Stock Performance

IBM traded down $1.06 during trading on Thursday, hitting $232.61. 1,249,921 shares of the stock were exchanged, compared to its average volume of 4,174,228. The stock has a fifty day moving average price of $210.57 and a two-hundred day moving average price of $188.54. The firm has a market capitalization of $213.68 billion, a P/E ratio of 26.23, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates 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 was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 EPS. As a group, sell-side analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

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.