Wealth Enhancement Advisory Services LLC Purchases 68,760 Shares of International Business Machines Co. (NYSE:IBM)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 779,468 shares of the technology company's stock after buying an additional 68,760 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.08% of International Business Machines worth $172,320,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new stake in shares of International Business Machines during the second quarter valued at about $7,160,000. Hodges Capital Management Inc. increased its position in International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company's stock valued at $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY raised its stake in shares of International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company's stock valued at $491,000 after acquiring an additional 250 shares during the last quarter. Smith Thornton Advisors LLC acquired a new position in shares of International Business Machines during the second quarter worth $702,000. Finally, Retirement Planning Group LLC acquired a new stake in International Business Machines in the third quarter valued at $618,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group upped their price target on International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a research report on Monday, October 21st. StockNews.com cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Friday. BMO Capital Markets upped their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a research report on Thursday. DZ Bank downgraded International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Finally, Hsbc Global Res upgraded International Business Machines to a "moderate sell" rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $208.12.

International Business Machines Stock Performance

IBM traded down $3.72 during trading on Friday, hitting $214.67. 8,482,235 shares of the company traded hands, compared to its average volume of 3,480,485. International Business Machines Co. has a one year low of $141.58 and a one year high of $237.37. The stock's fifty day moving average is $215.58 and its 200 day moving average is $190.42. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a market cap of $197.74 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, equities analysts predict that International Business Machines Co. will post 10.13 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. International Business Machines's dividend payout ratio is 73.65%.

About International Business Machines

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.