Premier Path Wealth Partners LLC Increases Stock Position in International Business Machines Co. (NYSE:IBM)

Premier Path Wealth Partners LLC raised its position in International Business Machines Co. (NYSE:IBM) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,287 shares of the technology company’s stock after acquiring an additional 127 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in International Business Machines were worth $914,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Arden Trust Co raised its stake in International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares in the last quarter. CVA Family Office LLC grew its stake in International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after purchasing an additional 57 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after buying an additional 58 shares in the last quarter. Peddock Capital Advisors LLC grew its position in shares of International Business Machines by 0.6% in the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after buying an additional 58 shares during the last quarter. Finally, Wolff Wiese Magana LLC raised its stake in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IBM. The Goldman Sachs Group began coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. BNP Paribas assumed coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target for the company. Morgan Stanley cut their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their target price on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $184.93.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $0.14 during trading on Friday, hitting $196.10. 2,321,961 shares of the stock traded hands, compared to its average volume of 4,278,521. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a fifty day moving average price of $183.79 and a two-hundred day moving average price of $181.44. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $199.18. The company has a market cap of $180.14 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 4.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Friday, August 9th. 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.