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

Global Trust Asset Management LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 97.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,876 shares of the technology company’s stock after acquiring an additional 1,915 shares during the period. Global Trust Asset Management LLC’s holdings in International Business Machines were worth $857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the first quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the second quarter valued at approximately $36,000. Wolff Wiese Magana LLC lifted its position in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in International Business Machines by 47.2% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock valued at $53,000 after purchasing an additional 77 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 6.2 %

International Business Machines stock opened at $218.28 on Friday. 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 one year low of $136.33 and a one year high of $237.37. The stock has a market capitalization of $200.51 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The business’s fifty day moving average is $214.67 and its 200 day moving average is $190.05.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. International Business Machines’s revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IBM. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, UBS Group increased their price objective 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 analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.