Crestwood Advisors Group LLC Boosts Stock Position in International Business Machines Corporation $IBM

Crestwood Advisors Group LLC raised its position in shares of International Business Machines Corporation (NYSE:IBM) by 20.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,836 shares of the technology company’s stock after buying an additional 5,144 shares during the quarter. Crestwood Advisors Group LLC’s holdings in International Business Machines were worth $8,701,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Winnow Wealth LLC purchased a new stake in International Business Machines during the second quarter valued at approximately $27,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of International Business Machines during the 3rd quarter valued at $28,000. Trifecta Capital Advisors LLC boosted its position in shares of International Business Machines by 129.1% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock worth $36,000 after purchasing an additional 71 shares in the last quarter. Legacy Wealth Managment LLC ID boosted its position in shares of 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 purchasing an additional 48 shares in the last quarter. Finally, Davis Capital Management purchased a new position in International Business Machines during the 3rd quarter worth $54,000. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IBM shares. Bank of America raised their price target on International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Royal Bank Of Canada set a $361.00 target price on shares of International Business Machines in a research note on Thursday, January 29th. Oppenheimer set a $380.00 price target on shares of International Business Machines and gave the company an “outperform” rating in a research note on Thursday, January 29th. Jefferies Financial Group raised their price target on shares of International Business Machines from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.07.

Insider Activity at International Business Machines

In related news, Director David N. Farr purchased 1,000 shares of International Business Machines stock in a transaction that occurred on Friday, January 30th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the transaction, the director owned 9,258 shares in the company, valued at $2,814,432. The trade was a 12.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.18% of the stock is owned by insiders.

International Business Machines Stock Up 1.1%

IBM stock opened at $262.33 on Tuesday. The firm’s fifty day simple moving average is $298.30 and its 200-day simple moving average is $284.26. The company has a market capitalization of $245.21 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 2.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. International Business Machines Corporation has a 12 month low of $214.50 and a 12 month high of $324.90.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.33 by $0.19. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The firm had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. During the same quarter last year, the company posted $3.92 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s payout ratio is 60.27%.

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.