Farther Finance Advisors LLC Purchases 2,368 Shares of International Business Machines Corporation $IBM

Farther Finance Advisors LLC increased its holdings in International Business Machines Corporation (NYSE:IBM) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,851 shares of the technology company’s stock after acquiring an additional 2,368 shares during the period. Farther Finance Advisors LLC’s holdings in International Business Machines were worth $8,987,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its position in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of International Business Machines by 38.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 330,222 shares of the technology company’s stock worth $82,113,000 after purchasing an additional 91,468 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $517,000. Samalin Investment Counsel LLC bought a new stake in shares of International Business Machines in the 1st quarter worth approximately $344,000. Finally, Per Stirling Capital Management LLC. lifted its stake in International Business Machines by 5.8% in the first quarter. Per Stirling Capital Management LLC. now owns 2,518 shares of the technology company’s stock valued at $626,000 after purchasing an additional 137 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

International Business Machines stock opened at $303.93 on Wednesday. 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. The stock has a market cap of $284.09 billion, a P/E ratio of 36.35, a price-to-earnings-growth ratio of 3.02 and a beta of 0.69. The firm’s fifty day moving average price is $302.10 and its 200-day moving average price is $280.26.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.International Business Machines’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.30 EPS. On average, equities research analysts expect 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 was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, November 10th. International Business Machines’s payout ratio is 80.38%.

Analyst Ratings Changes

Several brokerages have issued reports on IBM. Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. Stifel Nicolaus upped their price objective on shares of International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Royal Bank Of Canada cut their target price on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Finally, Morgan Stanley lowered their price target on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Moderate Buy” and an average price target of $293.38.

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.