Calton & Associates Inc. Purchases New Position in International Business Machines Co. (NYSE:IBM)

Calton & Associates Inc. purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,070 shares of the technology company’s stock, valued at approximately $237,000.

A number of other hedge funds also recently bought and sold shares of the business. Ellenbecker Investment Group increased its holdings in International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares during the period. Castleview Partners LLC increased its holdings in International Business Machines by 3.7% during the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock valued at $336,000 after purchasing an additional 55 shares during the period. Armbruster Capital Management Inc. boosted its position in International Business Machines by 2.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after acquiring an additional 56 shares in the last quarter. Aspect Partners LLC boosted its position in International Business Machines by 11.2% during the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after acquiring an additional 56 shares in the last quarter. Finally, Plimoth Trust Co. LLC boosted its position in International Business Machines by 0.3% during the 3rd quarter. Plimoth Trust Co. LLC now owns 16,782 shares of the technology company’s stock valued at $3,710,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IBM. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. 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 report on Wednesday, September 11th. Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets lifted their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $205.71.

International Business Machines Stock Performance

IBM stock opened at $232.25 on Wednesday. The stock has a market capitalization of $213.35 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock’s 50 day simple moving average is $213.86 and its 200 day simple moving average is $189.75.

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 the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion for 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 firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 EPS. As a group, research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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