Graypoint LLC Has $1.99 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Graypoint LLC raised its position in International Business Machines Co. (NYSE:IBM) by 17.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,479 shares of the technology company’s stock after buying an additional 1,741 shares during the period. Graypoint LLC’s holdings in International Business Machines were worth $1,985,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the first quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines in the 1st quarter valued at $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines in the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research reports. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six 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 an average rating of “Hold” and a consensus target price of $184.93.

International Business Machines Stock Performance

Shares of IBM traded up $3.23 during midday trading on Friday, reaching $202.13. The stock had a trading volume of 4,750,999 shares, compared to its average volume of 4,243,869. 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 50 day simple moving average of $186.57 and a 200-day simple moving average of $181.94. The firm has a market cap of $185.68 billion, a PE ratio of 22.89, a P/E/G ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a one year low of $135.87 and a one year high of $202.17.

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

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is 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.