1,356 Shares in International Business Machines Co. (NYSE:IBM) Bought by Elwood & Goetz Wealth Advisory Group LLC

Elwood & Goetz Wealth Advisory Group LLC acquired a new stake in International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,356 shares of the technology company’s stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ellenbecker Investment Group grew its stake in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the last quarter. McAdam LLC grew its position in International Business Machines by 1.5% in the third quarter. McAdam LLC now owns 3,570 shares of the technology company’s stock worth $789,000 after buying an additional 52 shares during the last quarter. Castleview Partners LLC increased its holdings in shares of International Business Machines by 3.7% in the third quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock valued at $336,000 after buying an additional 55 shares in the last quarter. Armbruster Capital Management Inc. lifted its position in shares of International Business Machines by 2.3% during the 2nd 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. Finally, Aspect Partners LLC boosted its stake in shares of International Business Machines by 11.2% during the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock worth $122,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 1.7 %

NYSE:IBM opened at $214.57 on Friday. 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 company has a market capitalization of $197.65 billion, a P/E ratio of 23.66, a P/E/G ratio of 4.84 and a beta of 0.70. The stock’s 50 day moving average price is $215.58 and its 200 day moving average price is $190.42. International Business Machines Co. has a 52 week low of $141.58 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. 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 for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts forecast that International Business Machines Co. will post 10.13 EPS for the current fiscal 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 given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. International Business Machines’s dividend payout ratio is currently 73.65%.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Friday. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Evercore ISI boosted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday. Finally, Bank of America boosted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.