Litman Gregory Wealth Management LLC Invests $397,000 in International Business Machines Co. (NYSE:IBM)

Litman Gregory Wealth Management LLC acquired a new position in International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,797 shares of the technology company’s stock, valued at approximately $397,000.

Other large investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines in the first quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the second quarter worth about $36,000. Wolff Wiese Magana LLC grew its stake in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc grew its stake in shares of International Business Machines by 54.3% in the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IBM shares. Royal Bank of Canada raised their target price on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Bernstein Bank raised their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Stifel Nicolaus lifted their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $205.71.

International Business Machines Stock Up 0.3 %

Shares of IBM traded up $0.76 during mid-day trading on Wednesday, reaching $233.01. The company had a trading volume of 821,559 shares, compared to its average volume of 4,167,125. 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 50-day moving average price of $213.86 and a 200 day moving average price of $189.75. International Business Machines Co. has a 52 week low of $136.05 and a 52 week high of $237.37. The company has a market capitalization of $214.04 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm 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 firm posted $2.18 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued 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 yield of 2.87%. International Business Machines’s payout ratio is currently 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.