Ritholtz Wealth Management Grows Position in International Business Machines Corporation $IBM

Ritholtz Wealth Management increased its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 13.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,324 shares of the technology company’s stock after acquiring an additional 2,002 shares during the period. Ritholtz Wealth Management’s holdings in International Business Machines were worth $4,888,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares in the last quarter. Trinity Legacy Partners LLC bought a new position in International Business Machines during the second quarter valued at $203,000. Sivia Capital Partners LLC grew its stake in shares of International Business Machines by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock valued at $571,000 after buying an additional 186 shares during the last quarter. Focus Financial Network Inc. increased its stake in International Business Machines by 8.2% in the 2nd quarter. Focus Financial Network Inc. now owns 7,427 shares of the technology company’s stock worth $2,189,000 after buying an additional 564 shares during the period. Finally, Signal Advisors Wealth LLC lifted its holdings in shares of International Business Machines by 38.8% in the 2nd quarter. Signal Advisors Wealth LLC now owns 2,964 shares of the technology company’s stock worth $874,000 after buying an additional 828 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 2.6%

Shares of NYSE:IBM opened at $305.82 on Friday. The stock has a 50-day simple moving average of $303.46 and a 200-day simple moving average of $282.50. The stock has a market capitalization of $285.86 billion, a P/E ratio of 36.58, a PEG ratio of 2.89 and a beta of 0.70. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same quarter last year, the firm earned $2.30 EPS. International Business Machines’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s dividend payout ratio is currently 80.38%.

Analysts Set New Price Targets

Several equities research analysts have commented on IBM shares. Stifel Nicolaus upped their price target on shares of International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Morgan Stanley reduced their price target on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. Oppenheimer began coverage on shares of International Business Machines in a research note on Friday, November 21st. They issued an “outperform” rating and a $360.00 price target for the company. UBS Group reaffirmed a “sell” rating on shares of International Business Machines in a report on Tuesday, December 9th. Finally, BMO Capital Markets raised their price target on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.38.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.