MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 281 Shares of International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in International Business Machines Co. (NYSE:IBM – Free Report) by 29.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,223 shares of the technology company’s stock after buying an additional 281 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in International Business Machines were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Sunflower Bank N.A. bought a new stake in International Business Machines during the 3rd quarter worth $212,000. Sound Income Strategies LLC boosted its stake in shares of International Business Machines by 6.2% during the third quarter. Sound Income Strategies LLC now owns 111,647 shares of the technology company’s stock valued at $24,683,000 after purchasing an additional 6,524 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of International Business Machines by 4.5% during the third quarter. CVA Family Office LLC now owns 1,876 shares of the technology company’s stock worth $415,000 after purchasing an additional 80 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in shares of International Business Machines by 28.5% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 3,040 shares of the technology company’s stock valued at $672,000 after buying an additional 674 shares during the period. Finally, Bright Financial Advisors Inc. boosted its position in International Business Machines by 10.8% during the 3rd quarter. Bright Financial Advisors Inc. now owns 1,714 shares of the technology company’s stock worth $379,000 after buying an additional 167 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IBM. Bank of America raised their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lifted their target price on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Finally, Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Three equities research 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 MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $198.41.

Check Out Our Latest Analysis on IBM

International Business Machines Price Performance

Shares of IBM opened at $235.26 on Tuesday. The stock has a market cap of $216.11 billion, a P/E ratio of 26.64, a P/E/G ratio of 5.21 and a beta of 0.70. The business’s fifty day moving average is $208.71 and its 200 day moving average is $187.93. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $236.12.

International Business Machines (NYSE:IBM – Get Free Report) last issued 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. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the company earned $2.18 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts anticipate 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. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.84%. International Business Machines’s dividend payout ratio is presently 75.65%.

International Business Machines Company Profile

(Free Report)

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.

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