GeoWealth Management LLC Acquires 3,397 Shares of International Business Machines Co. (NYSE:IBM)

GeoWealth Management LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 155.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 5,576 shares of the technology company’s stock after purchasing an additional 3,397 shares during the period. GeoWealth Management LLC’s holdings in International Business Machines were worth $747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of International Business Machines by 138,904.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 17,781,486 shares of the technology company’s stock valued at $2,379,341,000 after purchasing an additional 17,768,694 shares in the last quarter. Morgan Stanley grew its stake in shares of International Business Machines by 22.8% during the fourth quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after buying an additional 3,084,458 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in International Business Machines by 7.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock worth $2,119,007,000 after purchasing an additional 1,105,170 shares during the period. Geode Capital Management LLC grew its holdings in shares of International Business Machines by 1.5% in the first quarter. Geode Capital Management LLC now owns 16,209,322 shares of the technology company’s stock worth $2,120,034,000 after purchasing an additional 235,143 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in International Business Machines by 98,797.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock valued at $1,553,876,000 after buying an additional 11,017,849 shares in the last quarter. 56.16% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.0 %

Shares of IBM stock opened at $154.35 on Tuesday. The firm has a market capitalization of $140.94 billion, a P/E ratio of 20.47, a PEG ratio of 4.16 and a beta of 0.76. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $154.68. The stock’s fifty day moving average is $144.45 and its two-hundred day moving average is $139.19. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.86 and a current ratio of 0.91.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 25th. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.08. International Business Machines had a return on equity of 38.51% and a net margin of 11.32%. The company had revenue of $14.75 billion during the quarter, compared to analysts’ expectations of $14.73 billion. During the same period in the prior year, the business earned $1.81 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts expect that International Business Machines Co. will post 9.45 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Thursday, November 9th. International Business Machines’s dividend payout ratio is presently 88.06%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. BMO Capital Markets upped their target price on International Business Machines from $152.00 to $155.00 and gave the company a “market perform” rating in a research report on Thursday, October 26th. Royal Bank of Canada lowered their price objective on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Morgan Stanley dropped their price objective on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 17th. Finally, Wedbush reaffirmed a “neutral” rating and set a $140.00 target price on shares of International Business Machines in a report on Monday, November 13th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $149.09.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.