Northcape Wealth Management LLC Buys 148 Shares of International Business Machines Co. (NYSE:IBM)

Northcape Wealth Management LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 0.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 21,208 shares of the technology company’s stock after purchasing an additional 148 shares during the quarter. International Business Machines accounts for about 1.3% of Northcape Wealth Management LLC’s holdings, making the stock its 24th largest holding. Northcape Wealth Management LLC’s holdings in International Business Machines were worth $3,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC bought a new position in International Business Machines during the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines during the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines during the 4th quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its position 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 worth $38,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on IBM. BNP Paribas started coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective for the company. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. BMO Capital Markets raised their price target on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $184.93.

International Business Machines Stock Up 0.1 %

NYSE:IBM traded up $0.14 during mid-day trading on Friday, hitting $196.10. 2,321,961 shares of the company’s stock were exchanged, compared to its average volume of 4,278,521. International Business Machines Co. has a one year low of $135.87 and a one year high of $199.18. The business has a fifty day moving average price of $183.79 and a 200 day moving average price of $181.43. The company has a market cap of $180.14 billion, a PE ratio of 22.21, a P/E/G ratio of 4.24 and a beta of 0.71. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.18 EPS. 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 declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is 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.