Resonant Capital Advisors LLC Boosts Stake in International Business Machines Co. (NYSE:IBM)

Resonant Capital Advisors LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,205 shares of the technology company’s stock after purchasing an additional 167 shares during the quarter. Resonant Capital Advisors LLC’s holdings in International Business Machines were worth $709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans increased its position in International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after buying an additional 1,056,759 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after acquiring an additional 444,698 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.3 %

IBM opened at $232.20 on Monday. 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 has a market capitalization of $213.30 billion, a PE ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The firm’s 50 day simple moving average is $212.19 and its two-hundred day simple moving average is $189.14.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the firm earned $2.18 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities analysts forecast 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. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bank of America upped their target price 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. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Bernstein Bank upped their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, UBS Group lifted their target price 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 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $203.06.

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.