Adell Harriman & Carpenter Inc. Purchases 1,660 Shares of International Business Machines Co. (NYSE:IBM)

Adell Harriman & Carpenter Inc. lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,532 shares of the technology company’s stock after purchasing an additional 1,660 shares during the quarter. International Business Machines comprises 1.0% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 26th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in International Business Machines were worth $14,046,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the 1st quarter worth about $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines during the first quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the second quarter valued at approximately $36,000. Wolff Wiese Magana LLC boosted its position in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Briaud Financial Planning Inc grew its stake in shares of International Business Machines by 54.3% in the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after buying an additional 100 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

IBM opened at $210.43 on Wednesday. International Business Machines Co. has a 12-month low of $142.58 and a 12-month high of $237.37. The company has a market cap of $193.30 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 4.84 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company’s 50 day moving average is $216.23 and its 200 day moving average is $190.85.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.13 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on IBM. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets upped 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. Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Bernstein Bank upped their target price on shares of 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. Finally, Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $208.12.

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.