Legacy Trust Makes New $962,000 Investment in International Business Machines Corporation $IBM

Legacy Trust acquired a new stake in International Business Machines Corporation (NYSE:IBMFree Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,409 shares of the technology company’s stock, valued at approximately $962,000.

Several other institutional investors have also made changes to their positions in IBM. Family CFO Inc bought a new position in International Business Machines during the second quarter worth about $25,000. Winnow Wealth LLC bought a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $27,000. Highline Wealth Partners LLC raised its holdings in shares of International Business Machines by 85.0% in the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Copia Wealth Management lifted its position in shares of International Business Machines by 57.6% during the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock worth $40,000 after buying an additional 49 shares during the period. Finally, Legacy Wealth Managment LLC ID boosted its stake in International Business Machines by 48.5% in the 2nd quarter. Legacy Wealth Managment LLC ID now owns 147 shares of the technology company’s stock valued at $43,000 after buying an additional 48 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

IBM has been the subject of several recent analyst reports. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Bank of America lifted their price target on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. UBS Group restated a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Finally, Stifel Nicolaus raised their price objective on shares of International Business Machines from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $301.85.

View Our Latest Research Report on International Business Machines

International Business Machines Trading Up 0.5%

IBM opened at $304.36 on Friday. 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 capitalization of $284.49 billion, a PE ratio of 36.41, a PEG ratio of 2.82 and a beta of 0.70. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The firm has a 50-day moving average price of $303.55 and a two-hundred day moving average price of $281.97.

International Business Machines (NYSE:IBMGet Free Report) last announced 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 net margin of 12.09% and a return on equity of 37.76%. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the previous year, the firm posted $2.30 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

International Business Machines Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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