MGB Wealth Management LLC Takes Position in International Business Machines Co. (NYSE:IBM)

MGB Wealth Management LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,039 shares of the technology company’s stock, valued at approximately $229,000.

A number of other large investors have also recently modified their holdings of the business. Ellenbecker Investment Group boosted its position 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 acquiring an additional 46 shares during the last quarter. Goldstein Advisors LLC raised its holdings in shares of International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after buying an additional 47 shares in the last quarter. Vertex Planning Partners LLC raised its holdings in shares of International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after buying an additional 47 shares in the last quarter. Sollinda Capital Management LLC raised its holdings in shares of International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after buying an additional 49 shares in the last quarter. Finally, Lansing Street Advisors raised its holdings in shares of International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after buying an additional 49 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by corporate insiders.

International Business Machines Stock Performance

Shares of IBM opened at $222.97 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business has a 50-day simple moving average of $219.45 and a two-hundred day simple moving average of $195.39. The stock has a market cap of $206.17 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 4.99 and a beta of 0.71. International Business Machines Co. has a 52 week low of $153.92 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.20 earnings per share. On average, analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IBM shares. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Morgan Stanley decreased 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, October 24th. Evercore ISI lifted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $208.12.

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.