Integrity Financial Corp WA Acquires 600 Shares of International Business Machines Co. (NYSE:IBM)

Integrity Financial Corp WA lifted its stake in International Business Machines Co. (NYSE:IBM) by 38.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,176 shares of the technology company’s stock after purchasing an additional 600 shares during the quarter. Integrity Financial Corp WA’s holdings in International Business Machines were worth $481,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IBM. AdvisorNet Financial Inc grew its stake in International Business Machines by 27.9% during the 1st quarter. AdvisorNet Financial Inc now owns 5,997 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 1,309 shares during the last quarter. Global Assets Advisory LLC purchased a new position in International Business Machines during the 1st quarter worth approximately $3,026,000. Mechanics Bank Trust Department acquired a new stake in International Business Machines during the 1st quarter valued at approximately $469,000. West Coast Financial LLC purchased a new stake in shares of International Business Machines in the 1st quarter valued at $239,000. Finally, Evanson Asset Management LLC increased its stake in shares of International Business Machines by 14.2% in the first quarter. Evanson Asset Management LLC now owns 2,092 shares of the technology company’s stock worth $399,000 after acquiring an additional 260 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada increased their price target on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Morgan Stanley boosted their price objective on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Bernstein Bank boosted 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 report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $205.71.

International Business Machines Price Performance

Shares of IBM opened at $231.83 on Tuesday. 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 Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The company has a market cap of $212.96 billion, a P/E ratio of 26.25, a PEG ratio of 5.21 and a beta of 0.70. The firm’s 50 day moving average price is $213.04 and its 200 day moving average price is $189.45.

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

International Business Machines Announces Dividend

The company also recently announced 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. The ex-dividend date 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 payout ratio is 75.65%.

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.