Spectrum Wealth Advisory Group LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Spectrum Wealth Advisory Group LLC bought a new stake in International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,000 shares of the technology company’s stock, valued at approximately $221,000.

Several other large investors also recently made changes to their positions in IBM. Edgestream Partners L.P. lifted its position in International Business Machines by 119.6% in the 1st quarter. Edgestream Partners L.P. now owns 9,127 shares of the technology company’s stock valued at $1,743,000 after acquiring an additional 4,971 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in International Business Machines in the 1st quarter valued at about $611,000. Davis R M Inc. lifted its position in International Business Machines by 0.9% in the 1st quarter. Davis R M Inc. now owns 7,542 shares of the technology company’s stock valued at $1,440,000 after acquiring an additional 65 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in International Business Machines by 1.4% in the 1st quarter. Bahl & Gaynor Inc. now owns 8,400 shares of the technology company’s stock valued at $1,604,000 after acquiring an additional 116 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC bought a new position in International Business Machines in the 1st quarter valued at about $312,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IBM shares. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Bank of America lifted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Up 0.0 %

International Business Machines stock opened at $205.00 on Monday. International Business Machines Co. has a 1-year low of $152.35 and a 1-year high of $237.37. The firm has a market capitalization of $189.55 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 4.60 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a 50 day simple moving average of $218.79 and a 200 day simple moving average of $193.88.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the business earned $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.26%. International Business Machines’s dividend payout ratio is 97.23%.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by company insiders.

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.