International Business Machines Corporation $IBM Stock Position Raised by NovaPoint Capital LLC

NovaPoint Capital LLC increased its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,892 shares of the technology company’s stock after acquiring an additional 2,346 shares during the quarter. International Business Machines makes up approximately 1.6% of NovaPoint Capital LLC’s holdings, making the stock its 17th biggest holding. NovaPoint Capital LLC’s holdings in International Business Machines were worth $6,741,000 as of its most recent filing with the Securities & Exchange Commission.

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

International Business Machines Trading Up 0.2%

International Business Machines stock opened at $305.22 on Friday. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market capitalization of $285.30 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 3.04 and a beta of 0.69. The firm has a 50 day simple moving average of $303.62 and a 200-day simple moving average of $280.86.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the prior year, the firm posted $2.30 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

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. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, November 10th. International Business Machines’s payout ratio is presently 80.38%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, December 10th. Stifel Nicolaus raised their price target on shares of International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Bank of America boosted their price objective on International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Morgan Stanley lowered their target price on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. Finally, Jefferies Financial Group lifted their target price on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.38.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.