Community Financial Services Group LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Community Financial Services Group LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 983 shares of the technology company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the first quarter worth approximately $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines during the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines during the second quarter worth $36,000. Wolff Wiese Magana LLC raised its holdings in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc raised its holdings in shares of International Business Machines by 54.3% in the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several analyst reports. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group upped their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday. UBS Group upped their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. BMO Capital Markets increased their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $205.71.

International Business Machines Trading Down 0.2 %

Shares of NYSE:IBM opened at $231.83 on Tuesday. The company has a market cap of $212.96 billion, a P/E ratio of 26.25, a P/E/G ratio of 5.21 and a beta of 0.70. The stock’s 50-day moving average is $213.04 and its 200-day moving average is $189.45. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $237.37. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

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

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.