International Business Machines Corporation $IBM Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in International Business Machines Corporation (NYSE:IBM) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,950 shares of the technology company’s stock after buying an additional 5,476 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in International Business Machines were worth $15,223,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Winnow Wealth LLC purchased a new position in shares of International Business Machines during the 2nd quarter worth $27,000. Mountain Hill Investment Partners Corp. purchased a new position in International Business Machines during the third quarter worth about $28,000. Trifecta Capital Advisors LLC lifted its position in International Business Machines by 129.1% during the third quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock worth $36,000 after buying an additional 71 shares during the period. Legacy Wealth Managment LLC ID boosted its stake in 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 buying an additional 48 shares during the last quarter. Finally, Davis Capital Management purchased a new stake in International Business Machines in the 3rd quarter valued at about $54,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on IBM. Oppenheimer set a $380.00 target price on shares of International Business Machines and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of International Business Machines in a report on Thursday, January 22nd. UBS Group set a $317.00 price objective on International Business Machines in a report on Thursday, January 29th. Finally, Evercore lifted their target price on International Business Machines from $330.00 to $345.00 and gave the company an “outperform” 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.07.

Insider Activity

In related news, Director David N. Farr purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the purchase, the director owned 9,258 shares in the company, valued at approximately $2,814,432. This represents a 12.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

International Business Machines Stock Up 0.4%

Shares of NYSE IBM opened at $257.20 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The stock’s 50-day simple moving average is $294.08 and its 200-day simple moving average is $284.00. The firm has a market cap of $240.41 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 2.57 and a beta of 0.69.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 28th. The technology company reported $4.52 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 firm had revenue of $19.69 billion during the quarter, compared to the consensus estimate of $19.23 billion. During the same quarter in the prior year, the business posted $3.92 earnings per share. International Business Machines’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders 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%.

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.