Edge Capital Group LLC Purchases 5,098 Shares of International Business Machines Co. (NYSE:IBM)

Edge Capital Group LLC grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 24.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,687 shares of the technology company’s stock after purchasing an additional 5,098 shares during the quarter. Edge Capital Group LLC’s holdings in International Business Machines were worth $4,443,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the 1st quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines in the first quarter valued at $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines during the 4th quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake 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 worth $38,000 after purchasing an additional 123 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IBM shares. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. UBS Group raised their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Royal Bank of Canada upped their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets upped their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Up 1.8 %

Shares of International Business Machines stock opened at $217.70 on Friday. The company’s 50 day moving average price is $196.52 and its 200-day moving average price is $184.33. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $218.84. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock has a market capitalization of $199.98 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.