International Business Machines Co. (NYSE:IBM) Shares Bought by Leo Wealth LLC

Leo Wealth LLC boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,550 shares of the technology company’s stock after acquiring an additional 539 shares during the quarter. Leo Wealth LLC’s holdings in International Business Machines were worth $4,322,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IBM. Ellenbecker Investment Group lifted its holdings in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the last quarter. Castleview Partners LLC lifted its stake in International Business Machines by 3.7% in the third quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock valued at $336,000 after acquiring an additional 55 shares during the last quarter. Armbruster Capital Management Inc. grew its position in International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after acquiring an additional 56 shares in the last quarter. Aspect Partners LLC increased its stake in shares of International Business Machines by 11.2% during the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock worth $122,000 after purchasing an additional 56 shares during the last quarter. Finally, Plimoth Trust Co. LLC raised its holdings in shares of International Business Machines by 0.3% during the 3rd quarter. Plimoth Trust Co. LLC now owns 16,782 shares of the technology company’s stock valued at $3,710,000 after purchasing an additional 56 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM stock traded up $0.32 during trading hours on Tuesday, hitting $232.07. 1,710,941 shares of the company’s stock were exchanged, compared to its average volume of 4,176,319. The stock’s 50-day moving average is $213.04 and its 200-day moving average is $189.45. 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 Co. has a 52 week low of $135.87 and a 52 week high of $237.37. The stock has a market cap of $213.18 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the company posted $2.18 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of recent analyst reports. Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group raised 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 note on Monday, September 30th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday. Finally, 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 note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $205.71.

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.