Northern Financial Advisors Inc Acquires 50 Shares of International Business Machines Co. (NYSE:IBM)

Northern Financial Advisors Inc lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,815 shares of the technology company’s stock after acquiring an additional 50 shares during the period. International Business Machines makes up approximately 1.3% of Northern Financial Advisors Inc’s portfolio, making the stock its 24th largest position. Northern Financial Advisors Inc’s holdings in International Business Machines were worth $1,728,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ellenbecker Investment Group increased its position in shares of International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares in the last quarter. Goldstein Advisors LLC increased its position in shares of International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares in the last quarter. Sollinda Capital Management LLC increased its position in shares of International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after acquiring an additional 49 shares in the last quarter. Carret Asset Management LLC increased its position in shares of International Business Machines by 0.3% during the third quarter. Carret Asset Management LLC now owns 19,400 shares of the technology company’s stock valued at $4,289,000 after acquiring an additional 51 shares in the last quarter. Finally, McAdam LLC increased its position in shares of International Business Machines by 1.5% during the third quarter. McAdam LLC now owns 3,570 shares of the technology company’s stock valued at $789,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.7 %

IBM opened at $208.25 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a fifty-two week low of $144.84 and a fifty-two week high of $237.37. The firm’s fifty day moving average is $216.84 and its 200 day moving average is $191.29. The stock has a market cap of $192.56 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 4.64 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 EPS. On average, sell-side analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.21%. International Business Machines’s dividend payout ratio is currently 97.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IBM shares. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Morgan Stanley dropped their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. UBS Group raised their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, Bank of America raised their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $208.12.

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.