Red Mountain Financial LLC Takes $236,000 Position in International Business Machines Co. (NYSE:IBM)

Red Mountain Financial LLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, HoldingsChannel reports. The fund acquired 1,068 shares of the technology company’s stock, valued at approximately $236,000.

A number of other large investors have also recently made changes to their positions in IBM. Vanguard Group Inc. lifted its holdings in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Legal & General Group Plc lifted its holdings in International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM opened at $233.34 on Friday. The company has a market cap of $214.94 billion, a P/E ratio of 25.73, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The business’s 50 day moving average price is $207.67 and its 200-day moving average price is $187.65. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $235.83.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 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 company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the company posted $2.18 EPS. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 73.65%.

Analysts Set New Price Targets

A number of research firms recently commented on IBM. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. The Goldman Sachs Group boosted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Jefferies Financial Group upped their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $198.41.

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.