Gries Financial LLC grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 26.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,378 shares of the technology company’s stock after purchasing an additional 713 shares during the period. Gries Financial LLC’s holdings in International Business Machines were worth $469,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of IBM. Sphinx Trading LP acquired a new position in shares of International Business Machines during the third quarter worth about $28,000. Financial Enhancement Group LLC grew its position in shares of International Business Machines by 10,000.0% during the third quarter. Financial Enhancement Group LLC now owns 202 shares of the technology company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Simon Quick Advisors LLC grew its position in shares of International Business Machines by 61.3% during the third quarter. Simon Quick Advisors LLC now owns 263 shares of the technology company’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Carderock Capital Management Inc. acquired a new position in shares of International Business Machines during the third quarter worth about $53,000. Finally, Destiny Wealth Partners LLC acquired a new position in shares of International Business Machines during the third quarter worth about $59,000. Institutional investors own 55.31% of the company’s stock.
A number of equities analysts recently issued reports on IBM shares. Credit Suisse Group started coverage on International Business Machines in a report on Friday, October 29th. They issued an “outperform” rating and a $172.00 price target for the company. UBS Group lowered their price target on International Business Machines from $124.00 to $118.00 in a report on Tuesday, January 25th. Stifel Nicolaus lowered their price target on International Business Machines from $151.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 15th. Evercore ISI started coverage on International Business Machines in a report on Thursday, December 2nd. They issued a “positive” rating and a $125.00 price target for the company. Finally, Zacks Investment Research raised International Business Machines from a “sell” rating to a “hold” rating and set a $132.00 price target for the company in a report on Friday, December 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $146.45.
International Business Machines stock opened at $137.15 on Friday. International Business Machines Co. has a 12 month low of $114.56 and a 12 month high of $152.84. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.88 and a quick ratio of 0.83. The business has a 50 day simple moving average of $129.89 and a 200-day simple moving average of $133.19. The stock has a market capitalization of $122.93 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.26 and a beta of 1.09.
International Business Machines (NYSE:IBM) last released its quarterly earnings results on Monday, January 24th. The technology company reported $3.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.30 by $0.05. International Business Machines had a return on equity of 42.49% and a net margin of 8.11%. The business had revenue of $16.70 billion during the quarter, compared to analysts’ expectations of $15.96 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 10th. Shareholders of record on Friday, February 11th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 4.78%. The ex-dividend date is Thursday, February 10th. International Business Machines’s payout ratio is 103.31%.
About International Business Machines
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
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