Rede Wealth LLC Grows Stake in International Business Machines Corporation $IBM

Rede Wealth LLC lifted its stake in International Business Machines Corporation (NYSE:IBM) by 327.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,176 shares of the technology company’s stock after buying an additional 2,433 shares during the period. Rede Wealth LLC’s holdings in International Business Machines were worth $896,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IBM. Brighton Jones LLC grew its holdings in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in International Business Machines by 139.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 533,070 shares of the technology company’s stock valued at $132,553,000 after buying an additional 310,005 shares during the last quarter. Activest Wealth Management grew its stake in shares of International Business Machines by 74.1% during the first quarter. Activest Wealth Management now owns 444 shares of the technology company’s stock valued at $110,000 after acquiring an additional 189 shares in the last quarter. Connecticut Wealth Management LLC increased its position in shares of International Business Machines by 8.1% during the first quarter. Connecticut Wealth Management LLC now owns 13,090 shares of the technology company’s stock worth $3,255,000 after acquiring an additional 983 shares during the last quarter. Finally, Texas Bank & Trust Co lifted its stake in shares of International Business Machines by 1.9% in the first quarter. Texas Bank & Trust Co now owns 7,442 shares of the technology company’s stock worth $1,851,000 after acquiring an additional 140 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IBM shares. BMO Capital Markets lifted their price objective on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Royal Bank Of Canada cut their price target on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Bank of America raised their price objective on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Stifel Nicolaus boosted their target price on shares of International Business Machines from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. One equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $293.38.

International Business Machines Stock Performance

International Business Machines stock opened at $305.22 on Friday. 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 12 month low of $214.50 and a 12 month high of $324.90. The company has a fifty day moving average price of $303.62 and a two-hundred day moving average price of $280.86. The company has a market cap of $285.30 billion, a PE ratio of 36.51, a P/E/G ratio of 3.04 and a beta of 0.69.

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

International Business Machines Announces Dividend

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

International Business Machines Company Profile

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.