Brightworth Takes Position in International Business Machines Corp. (IBM)

Brightworth bought a new stake in International Business Machines Corp. (NYSE:IBM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,244 shares of the technology company’s stock, valued at approximately $471,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Herndon Capital Management LLC grew its holdings in shares of International Business Machines by 39.0% during the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after purchasing an additional 195 shares during the last quarter. Edge Wealth Management LLC grew its holdings in shares of International Business Machines by 5.6% during the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after purchasing an additional 40 shares during the last quarter. ETF Managers Group LLC bought a new stake in shares of International Business Machines during the 2nd quarter valued at approximately $121,000. Peddock Capital Advisors LLC grew its holdings in shares of International Business Machines by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after purchasing an additional 62 shares during the last quarter. Finally, Horan Securities Inc. grew its holdings in shares of International Business Machines by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after purchasing an additional 837 shares during the last quarter. 57.11% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Corp. (NYSE IBM) opened at $154.25 on Wednesday. The stock has a market cap of $142,800.00, a P/E ratio of 12.88, a PEG ratio of 2.25 and a beta of 0.94. International Business Machines Corp. has a 1 year low of $139.13 and a 1 year high of $182.79. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.41 and a quick ratio of 1.36.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, October 17th. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.02. The firm had revenue of $19.15 billion for the quarter, compared to the consensus estimate of $18.63 billion. International Business Machines had a net margin of 14.43% and a return on equity of 68.68%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.29 EPS. equities research analysts forecast that International Business Machines Corp. will post 13.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Saturday, December 9th. Stockholders of record on Friday, November 10th were given a $1.50 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.89%. International Business Machines’s dividend payout ratio (DPR) is currently 50.08%.

A number of research firms have weighed in on IBM. Zacks Investment Research lowered shares of International Business Machines from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Vetr lowered shares of International Business Machines from a “strong-buy” rating to a “buy” rating and set a $173.45 target price on the stock. in a report on Tuesday, December 12th. Tigress Financial reissued a “buy” rating on shares of International Business Machines in a report on Friday, December 1st. Royal Bank of Canada reissued a “hold” rating and set a $160.00 target price on shares of International Business Machines in a report on Wednesday, November 15th. Finally, KeyCorp reissued a “hold” rating on shares of International Business Machines in a report on Friday, November 3rd. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $159.24.

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About International Business Machines

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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