Journey Advisory Group LLC Grows Stock Position in International Business Machines Corporation $IBM

Journey Advisory Group LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM) by 39.0% in the 3rd quarter, Holdings Channel reports. The firm owned 13,887 shares of the technology company’s stock after purchasing an additional 3,898 shares during the period. Journey Advisory Group LLC’s holdings in International Business Machines were worth $3,918,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. CFS Investment Advisory Services LLC raised its position in shares of International Business Machines by 0.4% in the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after buying an additional 34 shares during the last quarter. KPP Advisory Services LLC grew its stake in International Business Machines by 1.7% during the 3rd quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock valued at $584,000 after acquiring an additional 34 shares in the last quarter. Marco Investment Management LLC raised its holdings in International Business Machines by 0.3% in the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock valued at $3,040,000 after acquiring an additional 34 shares during the last quarter. MA Private Wealth lifted its stake in International Business Machines by 1.5% in the 3rd quarter. MA Private Wealth now owns 2,242 shares of the technology company’s stock worth $633,000 after purchasing an additional 34 shares in the last quarter. Finally, Ignite Planners LLC boosted its holdings in shares of International Business Machines by 0.9% during the 3rd quarter. Ignite Planners LLC now owns 4,000 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, Director David N. Farr bought 1,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were bought at an average price of $304.00 per share, with a total value of $304,000.00. Following the completion of the transaction, the director directly owned 9,258 shares in the company, valued at $2,814,432. This trade represents a 12.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $257.20 on Friday. The stock has a fifty day simple moving average of $294.08 and a 200-day simple moving average of $284.00. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. The stock has a market cap of $240.41 billion, a PE ratio of 23.07, a P/E/G ratio of 2.57 and a beta of 0.69. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.33 by $0.19. The firm had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. International Business Machines’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.92 EPS. Equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be given a dividend of $1.68 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. International Business Machines’s dividend payout ratio (DPR) is presently 60.27%.

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. Bank of America increased their price target on International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Stifel Nicolaus raised their target price on International Business Machines from $325.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Evercore lifted their price target on International Business Machines from $330.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Argus set a $360.00 price objective on shares of International Business Machines in a report on Friday, January 30th. Finally, Royal Bank Of Canada set a $361.00 price objective on shares of International Business Machines in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $330.07.

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.