Great Lakes Retirement Inc. Raises Stock Holdings in International Business Machines Co. (NYSE:IBM)

Great Lakes Retirement Inc. boosted its stake in International Business Machines Co. (NYSE:IBM) by 4,676.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,034 shares of the technology company’s stock after purchasing an additional 10,803 shares during the quarter. Great Lakes Retirement Inc.’s holdings in International Business Machines were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines during the 1st quarter worth $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the first quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the 2nd quarter valued at about $36,000. Wolff Wiese Magana LLC raised its holdings in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares in the last quarter. Finally, Briaud Financial Planning Inc lifted its position in International Business Machines by 54.3% in the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after buying an additional 100 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on IBM. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Morgan Stanley upped their price target on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three 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 MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $205.71.

International Business Machines Stock Up 0.2 %

Shares of NYSE IBM opened at $232.75 on Thursday. The firm has a fifty day simple moving average of $214.67 and a two-hundred day simple moving average of $190.05. International Business Machines Co. has a 12 month low of $136.05 and a 12 month high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm has a market capitalization of $213.80 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released 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. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 earnings per share. Equities analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. 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.