Courier Capital LLC Grows Stock Holdings in International Business Machines Co. (NYSE:IBM)

Courier Capital LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 3.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,452 shares of the technology company’s stock after buying an additional 1,630 shares during the quarter. Courier Capital LLC’s holdings in International Business Machines were worth $10,933,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of 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 during the last quarter. Castleview Partners LLC increased its position in shares of International Business Machines by 3.7% during the third quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock valued at $336,000 after acquiring an additional 55 shares during the last quarter. Armbruster Capital Management Inc. increased its position in shares of International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after acquiring an additional 56 shares during the last quarter. Aspect Partners LLC increased its position in shares of International Business Machines by 11.2% during the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after acquiring an additional 56 shares during the last quarter. Finally, Plimoth Trust Co. LLC increased its position in shares of International Business Machines by 0.3% during the third quarter. Plimoth Trust Co. LLC now owns 16,782 shares of the technology company’s stock valued at $3,710,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $205.71.

International Business Machines Stock Performance

IBM traded up $0.63 during trading on Wednesday, hitting $232.88. The stock had a trading volume of 1,540,162 shares, compared to its average volume of 4,170,630. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market capitalization of $213.92 billion, a P/E ratio of 26.36, a PEG ratio of 5.21 and a beta of 0.70. The company’s 50-day moving average price is $213.86 and its 200 day moving average price is $189.75. International Business Machines Co. has a twelve month low of $136.05 and a twelve month high of $237.37.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio (DPR) is presently 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.