Global Trust Asset Management LLC Buys 1,915 Shares of International Business Machines Co. (NYSE:IBM)

Global Trust Asset Management LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 97.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,876 shares of the technology company’s stock after purchasing an additional 1,915 shares during the quarter. Global Trust Asset Management LLC’s holdings in International Business Machines were worth $857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ellenbecker Investment Group increased its position in International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares during the period. McAdam LLC increased its position in International Business Machines by 1.5% during the 3rd quarter. McAdam LLC now owns 3,570 shares of the technology company’s stock valued at $789,000 after purchasing an additional 52 shares during the period. Castleview Partners LLC increased its position in International Business Machines by 3.7% during the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock valued at $336,000 after purchasing an additional 55 shares during the period. Armbruster Capital Management Inc. boosted its holdings 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 worth $432,000 after buying an additional 56 shares in the last quarter. Finally, Aspect Partners LLC boosted its holdings 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 buying an additional 56 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Finally, UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Down 6.2 %

NYSE IBM opened at $218.28 on Friday. The firm has a market capitalization of $200.51 billion, a P/E ratio of 24.72, a PEG ratio of 5.21 and a beta of 0.70. The business has a fifty day simple moving average of $214.67 and a 200 day simple moving average of $190.05. International Business Machines Co. has a 12 month low of $136.33 and a 12 month high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.05. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the firm posted $2.20 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

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.