HM Payson & Co. Purchases 9,420 Shares of International Business Machines Corporation $IBM

HM Payson & Co. increased its holdings in International Business Machines Corporation (NYSE:IBM) by 12.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,788 shares of the technology company’s stock after buying an additional 9,420 shares during the period. HM Payson & Co.’s holdings in International Business Machines were worth $24,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. 1900 Wealth Management LLC bought a new stake in shares of International Business Machines during the 3rd quarter valued at about $219,000. Goldstone Financial Group LLC lifted its position in International Business Machines by 27.8% during the third quarter. Goldstone Financial Group LLC now owns 3,324 shares of the technology company’s stock valued at $938,000 after purchasing an additional 724 shares during the last quarter. Norris Perne & French LLP MI grew its stake in International Business Machines by 14.7% in the 3rd quarter. Norris Perne & French LLP MI now owns 2,350 shares of the technology company’s stock worth $663,000 after buying an additional 301 shares in the last quarter. Ullmann Wealth Partners Group LLC increased its holdings in shares of International Business Machines by 1.0% in the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 6,069 shares of the technology company’s stock worth $1,712,000 after buying an additional 60 shares during the last quarter. Finally, FLC Capital Advisors raised its position in shares of International Business Machines by 2.6% during the 3rd quarter. FLC Capital Advisors now owns 27,937 shares of the technology company’s stock valued at $7,883,000 after buying an additional 718 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $305.22 on Monday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90. The business’s 50 day simple moving average is $303.62 and its two-hundred day simple moving average is $280.86. The stock has a market capitalization of $285.30 billion, a P/E ratio of 36.51, a price-to-earnings-growth ratio of 3.04 and a beta of 0.69.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.30 earnings per share. Analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders 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 dividend yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio is currently 80.38%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IBM shares. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Bank of America increased their price objective on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Jefferies Financial Group upped their target price on International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research note on Tuesday, October 21st. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average 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.