Mainstay Capital Management LLC ADV Purchases 139 Shares of International Business Machines Co. (NYSE:IBM)

Mainstay Capital Management LLC ADV boosted its position in International Business Machines Co. (NYSE:IBM) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,602 shares of the technology company’s stock after acquiring an additional 139 shares during the quarter. International Business Machines accounts for 0.4% of Mainstay Capital Management LLC ADV’s holdings, making the stock its 24th largest holding. Mainstay Capital Management LLC ADV’s holdings in International Business Machines were worth $2,123,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Brookstone Capital Management grew its holdings in shares of International Business Machines by 1.6% during the 1st quarter. Brookstone Capital Management now owns 18,187 shares of the technology company’s stock valued at $3,473,000 after purchasing an additional 289 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of International Business Machines by 127.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,891 shares of the technology company’s stock worth $552,000 after buying an additional 1,621 shares in the last quarter. New England Research & Management Inc. lifted its stake in shares of International Business Machines by 28.6% in the 1st quarter. New England Research & Management Inc. now owns 10,440 shares of the technology company’s stock valued at $1,994,000 after acquiring an additional 2,321 shares during the last quarter. S.E.E.D. Planning Group LLC boosted its holdings in shares of International Business Machines by 113.6% during the 1st quarter. S.E.E.D. Planning Group LLC now owns 11,520 shares of the technology company’s stock valued at $2,200,000 after acquiring an additional 6,127 shares in the last quarter. Finally, OneAscent Financial Services LLC increased its holdings in International Business Machines by 5.3% in the 1st quarter. OneAscent Financial Services LLC now owns 3,955 shares of the technology company’s stock worth $755,000 after purchasing an additional 199 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 6.2 %

IBM opened at $218.28 on Friday. The firm has a market capitalization of $200.51 billion, a PE ratio of 24.72, 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 current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a fifty-two week low of $136.33 and a fifty-two week high of $237.37. The company’s 50-day moving average is $214.67 and its 200 day moving average is $190.05.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.05. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the company earned $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley cut their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday. Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $208.12.

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.