Sunpointe LLC Buys New Position in International Business Machines Co. (NYSE:IBM)

Sunpointe LLC bought a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,044 shares of the technology company’s stock, valued at approximately $231,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the 1st quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new position in International Business Machines in the 1st quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines in the 4th quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the 2nd quarter valued at approximately $36,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.2 %

Shares of NYSE:IBM traded down $0.57 during midday trading on Wednesday, hitting $232.39. The company had a trading volume of 168,126 shares, compared to its average volume of 4,175,324. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37. 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 stock has a market cap of $213.47 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 5.21 and a beta of 0.70. The firm has a fifty day simple moving average of $209.64 and a 200 day simple moving average of $188.23.

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

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.87%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Stifel Nicolaus increased their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their target price on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Three equities research 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $198.41.

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.