968 Shares in International Business Machines Co. (NYSE:IBM) Bought by Masso Torrence Wealth Management Inc.

Masso Torrence Wealth Management Inc. acquired a new stake in International Business Machines Co. (NYSE:IBM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 968 shares of the technology company’s stock, valued at approximately $214,000.

Other large investors have also recently made changes to their positions in the company. Ellenbecker Investment Group boosted its stake in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares during the period. McAdam LLC grew its holdings 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 last quarter. Castleview Partners LLC raised its position in International Business Machines by 3.7% in the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock worth $336,000 after purchasing an additional 55 shares during the period. Armbruster Capital Management Inc. lifted its stake in International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after purchasing an additional 56 shares during the last quarter. Finally, Aspect Partners LLC boosted 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 buying an additional 56 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Bank of America upped 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 note on Wednesday, October 9th. Finally, Morgan Stanley lowered their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

International Business Machines stock traded down $3.72 during trading hours on Friday, hitting $214.67. 8,482,235 shares of the stock traded hands, compared to its average volume of 3,480,485. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1 year low of $141.58 and a 1 year high of $237.37. The stock has a market capitalization of $197.74 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 4.84 and a beta of 0.70. The firm’s 50 day moving average price is $215.58 and its 200-day moving average price is $190.42.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 EPS. As a group, equities analysts expect that International Business Machines Co. will post 10.13 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid 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 payout ratio is 73.65%.

International Business Machines 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.