Financial Insights Inc. Invests $202,000 in International Business Machines Co. (NYSE:IBM)

Financial Insights Inc. purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 914 shares of the technology company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines during the second quarter valued at about $7,160,000. Hodges Capital Management Inc. increased its stake in International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY increased its stake in International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after acquiring an additional 250 shares during the period. Smith Thornton Advisors LLC bought a new position in International Business Machines during the second quarter valued at about $702,000. Finally, Retirement Planning Group LLC bought a new position in International Business Machines during the third quarter valued at about $618,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.2 %

Shares of IBM opened at $232.25 on Wednesday. The company has a market capitalization of $213.35 billion, a P/E ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. 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 one year low of $135.87 and a one year high of $237.37. The business’s 50 day simple moving average is $213.86 and its 200-day simple moving average is $189.75.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping 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 firm 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 business earned $2.18 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

Analysts Set New Price Targets

IBM has been the topic of several research reports. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday. Morgan Stanley lifted their price objective on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. BMO Capital Markets lifted their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $205.71.

International Business Machines 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.