Main Street Financial Solutions LLC Buys 335 Shares of International Business Machines Co. (NYSE:IBM)

Main Street Financial Solutions LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,035 shares of the technology company’s stock after acquiring an additional 335 shares during the quarter. Main Street Financial Solutions LLC’s holdings in International Business Machines were worth $1,735,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC bought a new stake in International Business Machines in the 1st quarter valued at $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines during the 4th quarter worth $29,000. Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines during the 4th quarter worth $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. UBS Group boosted their price objective 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, Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $188.60.

International Business Machines Stock Performance

Shares of IBM stock opened at $209.82 on Thursday. 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 fifty day moving average price of $191.34 and a 200 day moving average price of $182.99. The company has a market cap of $193.28 billion, a P/E ratio of 23.76, a PEG ratio of 4.47 and a beta of 0.70. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $210.12.

International Business Machines (NYSE:IBM) last announced 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. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 earnings per share. Sell-side 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 business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.18%. International Business Machines’s dividend payout ratio (DPR) 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.