Spectrum Wealth Advisory Group LLC Invests $221,000 in International Business Machines Co. (NYSE:IBM)

Spectrum Wealth Advisory Group LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,000 shares of the technology company’s stock, valued at approximately $221,000.

Other hedge funds also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of International Business Machines during the 2nd quarter worth $7,160,000. Philip James Wealth Mangement LLC bought a new stake in International Business Machines in the third quarter worth $5,117,000. Focused Wealth Management Inc lifted its stake in International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares during the last quarter. QRG Capital Management Inc. lifted its stake in International Business Machines by 4.5% in the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after purchasing an additional 6,004 shares during the last quarter. Finally, F M Investments LLC lifted its stake in International Business Machines by 39.6% in the third quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock worth $13,696,000 after purchasing an additional 17,554 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. Evercore ISI boosted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. BMO Capital Markets boosted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Bank of America boosted their price target 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. Morgan Stanley lowered their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 0.0 %

NYSE:IBM opened at $205.00 on Monday. The company’s 50 day moving average price is $218.79 and its 200-day moving average price is $193.88. International Business Machines Co. has a 52 week low of $152.35 and a 52 week high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market cap of $189.55 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS 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 firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

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.