Opes Wealth Management LLC Invests $206,000 in International Business Machines Co. (NYSE:IBM)

Opes Wealth Management LLC acquired a new position in International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 934 shares of the technology company’s stock, valued at approximately $206,000.

Several other institutional investors have also recently made changes to their positions in IBM. Ellenbecker Investment Group boosted its stake in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after acquiring an additional 46 shares in the last quarter. Goldstein Advisors LLC increased its position in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after buying an additional 47 shares in the last quarter. Sollinda Capital Management LLC raised its stake in 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 buying an additional 49 shares during the last quarter. Northern Financial Advisors Inc raised its stake in International Business Machines by 0.6% during the third quarter. Northern Financial Advisors Inc now owns 7,815 shares of the technology company’s stock valued at $1,728,000 after buying an additional 50 shares during the last quarter. Finally, Carret Asset Management LLC boosted its holdings in International Business Machines by 0.3% in the third quarter. Carret Asset Management LLC now owns 19,400 shares of the technology company’s stock worth $4,289,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $208.25 on Monday. The company has a market capitalization of $192.56 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71. The business’s 50-day moving average is $216.84 and its 200 day moving average is $191.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $144.84 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company earned $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.21%. International Business Machines’s dividend payout ratio is currently 97.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IBM shares. Evercore ISI lifted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, BMO Capital Markets boosted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $208.12.

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.