Brophy Wealth Management LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Brophy Wealth Management LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,526 shares of the technology company’s stock, valued at approximately $559,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. raised its position in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC acquired a new position in International Business Machines during the third quarter worth $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the second quarter worth $36,000. Capital Performance Advisors LLP acquired a new position in International Business Machines during the third quarter worth $43,000. Finally, Briaud Financial Planning Inc raised its position in International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after acquiring an additional 100 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.8 %

Shares of IBM opened at $231.76 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12-month low of $157.88 and a 12-month high of $239.35. The firm has a 50-day moving average price of $221.92 and a 200 day moving average price of $200.27. The firm has a market capitalization of $214.30 billion, a P/E ratio of 33.74, a P/E/G ratio of 5.16 and a beta of 0.73.

International Business Machines (NYSE:IBM) last announced its 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. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on IBM. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets increased their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $208.12.

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.