Matrix Trust Co Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Matrix Trust Co increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 307.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 285 shares of the technology company’s stock after acquiring an additional 215 shares during the period. Matrix Trust Co’s holdings in International Business Machines were worth $63,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arden Trust Co grew its position in International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after acquiring an additional 54 shares in the last quarter. Armbruster Capital Management Inc. boosted its holdings in shares of International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after purchasing an additional 56 shares during the period. CVA Family Office LLC grew its stake in International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares in the last quarter. Mill Creek Capital Advisors LLC raised its position in International Business Machines by 5.1% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after purchasing an additional 57 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Bank of America upped their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada increased their target price on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $196.12.

International Business Machines Stock Performance

NYSE IBM traded down $1.08 on Thursday, reaching $233.22. 933,821 shares of the company’s stock traded hands, compared to its average volume of 4,200,872. The stock has a 50 day moving average price of $205.92 and a 200-day moving average price of $187.02. The firm has a market cap of $214.24 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 4.90 and a beta of 0.70. 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 Co. has a fifty-two week low of $135.87 and a fifty-two week high of $235.83.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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 business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 EPS. Equities research analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 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.