Thoroughbred Financial Services LLC Increases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Thoroughbred Financial Services LLC boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 98.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,880 shares of the technology company’s stock after acquiring an additional 4,400 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in International Business Machines were worth $1,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines in the 1st quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines in the 4th quarter valued at about $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent research reports. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Jefferies Financial Group boosted their target price 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. BMO Capital Markets boosted their target price on 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. Finally, Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $188.60.

International Business Machines Trading Up 1.5 %

NYSE:IBM opened at $214.79 on Friday. The firm has a market cap of $197.85 billion, a P/E ratio of 24.33, a PEG ratio of 4.67 and a beta of 0.70. 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 stock’s 50 day simple moving average is $192.83 and its 200-day simple moving average is $183.39. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $216.09.

International Business Machines (NYSE:IBM) last released its earnings results 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 business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. Equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 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.