Ascent Wealth Partners LLC Takes $230,000 Position in International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

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Ascent Wealth Partners LLC bought a new position in International Business Machines Co. (NYSE:IBM – Free Report) in the third quarter, HoldingsChannel reports. The fund bought 1,638 shares of the technology company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IBM. Avestar Capital LLC boosted its holdings in International Business Machines by 28.5% in the third quarter. Avestar Capital LLC now owns 2,606 shares of the technology company’s stock worth $366,000 after purchasing an additional 578 shares during the last quarter. Signet Investment Advisory Group Inc. lifted its holdings in shares of International Business Machines by 0.8% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 14,538 shares of the technology company’s stock valued at $2,040,000 after buying an additional 115 shares during the period. Golden State Equity Partners lifted its holdings in shares of International Business Machines by 3.2% during the 3rd quarter. Golden State Equity Partners now owns 14,506 shares of the technology company’s stock valued at $2,035,000 after buying an additional 443 shares during the period. Lantz Financial LLC boosted its stake in shares of International Business Machines by 4.9% in the 3rd quarter. Lantz Financial LLC now owns 11,238 shares of the technology company’s stock worth $1,577,000 after buying an additional 521 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of International Business Machines by 4.9% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,134 shares of the technology company’s stock worth $1,282,000 after acquiring an additional 427 shares during the period. Institutional investors own 56.16% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $163.55 on Friday. The stock has a market cap of $149.34 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 4.45 and a beta of 0.77. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $166.34. The firm has a fifty day moving average price of $154.59 and a 200-day moving average price of $145.65. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.91 and a quick ratio of 0.86.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.08. International Business Machines had a return on equity of 38.51% and a net margin of 11.32%. The business had revenue of $14.75 billion during the quarter, compared to analyst estimates of $14.73 billion. During the same quarter in the prior year, the business posted $1.81 EPS. International Business Machines’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Co. will post 9.45 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 9th. Investors of record on Friday, November 10th were issued a $1.66 dividend. The ex-dividend date was Thursday, November 9th. This represents a $6.64 dividend on an annualized basis and a yield of 4.06%. International Business Machines’s dividend payout ratio is presently 88.06%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. BMO Capital Markets raised their price objective on shares of International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a report on Thursday, October 26th. Bank of America boosted their target price on shares of International Business Machines from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, December 5th. Wedbush reiterated a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research report on Monday, November 13th. Finally, Morgan Stanley cut their price objective on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $150.00.

Read Our Latest Research Report on IBM

About International Business Machines

(Free Report)

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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