Berry Wealth Group LP Invests $286,000 in International Business Machines Co. (NYSE:IBM)

Berry Wealth Group LP bought a new stake in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,292 shares of the technology company’s stock, valued at approximately $286,000.

Several other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the first quarter valued at approximately $28,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines during the second quarter valued at $36,000. Finally, Wolff Wiese Magana LLC increased its holdings in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IBM shares. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Royal Bank of Canada lifted their price objective on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. BMO Capital Markets upped their target price on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley lifted their price target on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $205.71.

International Business Machines Trading Down 0.3 %

Shares of NYSE IBM traded down $0.79 during trading hours on Monday, reaching $231.41. The stock had a trading volume of 1,224,399 shares, compared to its average volume of 4,180,634. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $237.37. The firm has a market cap of $212.57 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 5.21 and a beta of 0.70. The business’s fifty day moving average price is $212.19 and its two-hundred day moving average price is $189.14. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business 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 earned $2.18 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.89%. International Business Machines’s payout ratio is presently 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.