Good Life Advisors LLC Boosts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Good Life Advisors LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 104.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,194 shares of the technology company's stock after purchasing an additional 10,304 shares during the period. Good Life Advisors LLC's holdings in International Business Machines were worth $4,463,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IBM. Vanguard Group Inc. grew its position in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company's stock worth $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company's stock valued at $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company's stock valued at $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company's stock worth $817,000 after purchasing an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock worth $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $0.79 during trading hours on Thursday, reaching $232.88. The stock had a trading volume of 3,932,300 shares, compared to its average volume of 4,187,573. The stock's 50 day moving average is $210.57 and its 200 day moving average is $188.54. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $237.37. The firm has a market capitalization of $213.92 billion, a PE ratio of 26.23, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion during the quarter, compared to analysts' expectations of $15.62 billion. During the same quarter in the prior year, the firm posted $2.18 EPS. International Business Machines's quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines's payout ratio is presently 75.65%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBM. DZ Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. Jefferies Financial Group raised their target price on International Business Machines from $190.00 to $200.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. The Goldman Sachs Group boosted their price target on International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Morgan Stanley raised their price objective on International Business Machines from $182.00 to $217.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and a consensus target price of $203.06.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.