Brookstone Capital Management Raises Holdings in International Business Machines Co. (NYSE:IBM)

Brookstone Capital Management increased its holdings in International Business Machines Co. (NYSE:IBM) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 16,548 shares of the technology company’s stock after acquiring an additional 210 shares during the period. Brookstone Capital Management’s holdings in International Business Machines were worth $3,658,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IBM. Vanguard Group Inc. grew its position in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after acquiring an additional 1,056,759 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on IBM shares. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Evercore ISI raised their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Stifel Nicolaus raised their price target 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. BMO Capital Markets raised their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $198.41.

International Business Machines Price Performance

IBM stock opened at $233.05 on Friday. 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 Co. has a 12-month low of $135.87 and a 12-month high of $235.83. The company has a market cap of $214.08 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 4.90 and a beta of 0.70. The firm has a 50 day moving average of $205.92 and a 200-day moving average of $187.02.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.18 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.87%. 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.