LaFleur & Godfrey LLC Boosts Stake in International Business Machines Corporation $IBM

LaFleur & Godfrey LLC boosted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,827 shares of the technology company’s stock after acquiring an additional 4,599 shares during the period. LaFleur & Godfrey LLC’s holdings in International Business Machines were worth $9,262,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Winnow Wealth LLC acquired a new stake in shares of International Business Machines in the second quarter valued at approximately $27,000. Mountain Hill Investment Partners Corp. acquired a new position in International Business Machines during the third quarter worth $28,000. Trifecta Capital Advisors LLC grew its holdings in International Business Machines by 129.1% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock valued at $36,000 after buying an additional 71 shares in the last quarter. Legacy Wealth Managment LLC ID increased its stake in shares of 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 worth $43,000 after acquiring an additional 48 shares during the last quarter. Finally, Davis Capital Management purchased a new position in shares of International Business Machines during the 3rd quarter worth $54,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $257.20 on Monday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96. The firm has a market cap of $240.41 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.58 and a beta of 0.69. The firm’s 50 day moving average price is $294.08 and its 200-day moving average price is $284.45. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.19. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The company had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. During the same quarter in the previous year, the company earned $3.92 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s payout ratio is currently 60.27%.

Insider Transactions at International Business Machines

In other news, Director David N. Farr bought 1,000 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director directly owned 9,258 shares of the company’s stock, valued at $2,814,432. The trade was a 12.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Evercore upped their price objective on shares of International Business Machines from $330.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Argus set a $360.00 price target on shares of International Business Machines in a report on Friday, January 30th. Dbs Bank raised shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 19th. Finally, Stifel Nicolaus upped their price objective on International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.