TruWealth Advisors LLC Boosts Stock Position in International Business Machines Corporation $IBM

TruWealth Advisors LLC grew its holdings in International Business Machines Corporation (NYSE:IBM) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,751 shares of the technology company’s stock after purchasing an additional 4,527 shares during the period. International Business Machines comprises approximately 1.6% of TruWealth Advisors LLC’s holdings, making the stock its 19th largest holding. TruWealth Advisors LLC’s holdings in International Business Machines were worth $30,685,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in IBM. Family CFO Inc bought a new position in International Business Machines during the 2nd quarter worth about $25,000. Winnow Wealth LLC bought a new position in shares of International Business Machines during the second quarter valued at approximately $27,000. Highline Wealth Partners LLC increased its holdings in International Business Machines by 85.0% during the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after buying an additional 51 shares during the period. Silicon Valley Capital Partners lifted its holdings in International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after buying an additional 100 shares during the period. Finally, Copia Wealth Management boosted its position in International Business Machines by 57.6% during the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock valued at $40,000 after acquiring an additional 49 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.1%

NYSE IBM opened at $308.94 on Tuesday. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The company has a fifty day simple moving average of $299.86 and a two-hundred day simple moving average of $278.67. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. The stock has a market cap of $288.78 billion, a P/E ratio of 36.95, a P/E/G ratio of 3.08 and a beta of 0.69.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the prior year, the firm earned $2.30 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, December 10th. Bank of America lifted their price objective on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a report on Friday, November 21st. They issued an “outperform” rating and a $360.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $293.38.

International Business Machines 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.