Farther Finance Advisors LLC Boosts Stake in International Business Machines Corporation $IBM

Farther Finance Advisors LLC increased its position in International Business Machines Corporation (NYSE:IBM) by 8.0% in the third quarter, HoldingsChannel reports. The firm owned 31,851 shares of the technology company’s stock after purchasing an additional 2,368 shares during the quarter. Farther Finance Advisors LLC’s holdings in International Business Machines were worth $8,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of International Business Machines in the 2nd quarter worth about $2,011,122,000. Vanguard Group Inc. grew its holdings in International Business Machines by 2.1% in the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after purchasing an additional 1,913,708 shares during the period. Laurel Wealth Advisors LLC lifted its holdings in shares of International Business Machines by 27,928.2% during the second quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock valued at $561,001,000 after purchasing an additional 1,896,326 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of International Business Machines by 6.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after purchasing an additional 524,633 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of International Business Machines in the 2nd quarter worth approximately $133,771,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on IBM shares. Jefferies Financial Group increased their price objective on shares of International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. 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. BMO Capital Markets boosted their price objective on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Finally, Stifel Nicolaus boosted their price target on International Business Machines from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $293.38.

International Business Machines Stock Up 0.4%

IBM stock opened at $303.93 on Wednesday. The business’s 50-day moving average is $302.10 and its two-hundred day moving average is $280.26. The company has a market cap of $284.09 billion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 3.02 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.20. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.30 EPS. As a group, analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is currently 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.