Chicago Partners Investment Group LLC Acquires 1,813 Shares of International Business Machines Co. (NYSE:IBM)

Chicago Partners Investment Group LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 13.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,680 shares of the technology company’s stock after buying an additional 1,813 shares during the period. Chicago Partners Investment Group LLC’s holdings in International Business Machines were worth $3,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in International Business Machines in the first quarter worth approximately $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the 1st quarter worth $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the 2nd quarter worth $36,000. Wolff Wiese Magana LLC increased its stake in shares of International Business Machines by 37.0% during the second 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 during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of International Business Machines by 47.2% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock valued at $53,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IBM shares. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Stifel Nicolaus boosted their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. BMO Capital Markets boosted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley dropped their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Trading Up 0.7 %

NYSE IBM opened at $208.25 on Friday. International Business Machines Co. has a 12-month low of $144.84 and a 12-month high of $237.37. The company has a fifty day simple moving average of $216.84 and a two-hundred day simple moving average of $191.29. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a market cap of $192.56 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. On average, analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.21%. International Business Machines’s dividend payout ratio is currently 97.23%.

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.