International Business Machines Co. (NYSE:IBM) Shares Acquired by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in International Business Machines Co. (NYSE:IBM) by 19.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,768 shares of the technology company’s stock after acquiring an additional 7,680 shares during the period. International Business Machines accounts for about 1.8% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its 19th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in International Business Machines were worth $10,339,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Grimes & Company Inc. lifted its stake in International Business Machines by 0.8% during the third quarter. Grimes & Company Inc. now owns 15,923 shares of the technology company’s stock worth $3,520,000 after purchasing an additional 123 shares in the last quarter. First National Bank of Hutchinson acquired a new position in International Business Machines during the third quarter worth $226,000. Romano Brothers AND Company lifted its stake in International Business Machines by 3.5% during the third quarter. Romano Brothers AND Company now owns 36,593 shares of the technology company’s stock worth $8,090,000 after purchasing an additional 1,253 shares in the last quarter. Great Lakes Retirement Inc. lifted its stake in International Business Machines by 4,676.6% during the third quarter. Great Lakes Retirement Inc. now owns 11,034 shares of the technology company’s stock worth $2,439,000 after purchasing an additional 10,803 shares in the last quarter. Finally, Brighton Jones LLC lifted its stake in International Business Machines by 5.2% during the third quarter. Brighton Jones LLC now owns 18,688 shares of the technology company’s stock worth $4,132,000 after purchasing an additional 922 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IBM shares. Morgan Stanley upped their price target on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Bernstein Bank upped their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Bank of America upped their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group upped their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $208.65.

International Business Machines Price Performance

International Business Machines stock traded down $13.05 during mid-day trading on Thursday, reaching $219.70. The company had a trading volume of 3,620,601 shares, compared to its average volume of 4,188,595. International Business Machines Co. has a 1 year low of $136.33 and a 1 year high of $237.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company has a market capitalization of $201.82 billion, a P/E ratio of 24.55, a P/E/G ratio of 5.21 and a beta of 0.70. The stock’s 50-day simple moving average is $214.67 and its 200-day simple moving average is $190.05.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.05. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the company posted $2.20 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared 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 was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

International Business Machines 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.