Foguth Wealth Management LLC. Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Foguth Wealth Management LLC. boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,562 shares of the technology company’s stock after acquiring an additional 134 shares during the period. Foguth Wealth Management LLC.’s holdings in International Business Machines were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of IBM. Vontobel Holding Ltd. boosted its stake in International Business Machines by 20.3% in the 4th quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock worth $78,045,000 after purchasing an additional 80,474 shares in the last quarter. Auxano Advisors LLC increased its holdings in International Business Machines by 4.8% in the 4th quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock worth $556,000 after buying an additional 156 shares during the period. West Family Investments Inc. raised its position in International Business Machines by 7.6% during the 4th quarter. West Family Investments Inc. now owns 2,736 shares of the technology company’s stock worth $447,000 after buying an additional 194 shares during the last quarter. Mosley Wealth Management acquired a new stake in International Business Machines during the 4th quarter valued at approximately $312,000. Finally, Hodges Capital Management Inc. boosted its holdings in shares of International Business Machines by 60.8% in the 1st 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 last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on IBM. The Goldman Sachs Group started coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. UBS Group upped their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. BMO Capital Markets lifted their target price on shares of 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, JPMorgan Chase & Co. lowered their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $184.93.

International Business Machines Price Performance

NYSE:IBM traded up $1.51 during trading hours on Tuesday, hitting $190.99. 2,149,688 shares of the stock were exchanged, compared to its average volume of 4,383,974. The company has a market cap of $175.44 billion, a P/E ratio of 21.63, a P/E/G ratio of 4.24 and a beta of 0.71. The firm’s fifty day moving average price is $179.64 and its 200 day moving average price is $180.86. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $199.18. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the business earned $2.18 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a $1.67 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.50%. International Business Machines’s dividend payout ratio is presently 75.65%.

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.