Legacy Financial Strategies LLC Buys New Position in International Business Machines Co. (NYSE:IBM)

Legacy Financial Strategies LLC purchased a new position in International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,039 shares of the technology company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of IBM. Susquehanna Fundamental Investments LLC bought a new stake in International Business Machines during the second quarter worth approximately $7,160,000. Hodges Capital Management Inc. grew its holdings in shares of International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after acquiring an additional 7,768 shares during the last quarter. Burns J W & Co. Inc. NY raised its position in shares of International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares during the period. Smith Thornton Advisors LLC purchased a new stake in shares of International Business Machines during the second quarter valued at $702,000. Finally, Retirement Planning Group LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $618,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.3 %

NYSE:IBM traded down $0.68 during mid-day trading on Friday, reaching $232.20. The stock had a trading volume of 4,715,688 shares, compared to its average volume of 4,195,661. The stock has a market cap of $213.30 billion, a P/E ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. The business’s 50 day moving average is $212.19 and its 200 day moving average is $189.15. 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 fifty-two week low of $135.87 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the business posted $2.18 EPS. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analysts Set New Price Targets

IBM has been the topic of several recent analyst reports. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. BMO Capital Markets raised their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group raised their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Three investment 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.com, the company has a consensus rating of “Hold” and a consensus target price of $203.06.

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.