Parr Mcknight Wealth Management Group LLC Grows Stock Holdings in International Business Machines Corporation $IBM

Parr Mcknight Wealth Management Group LLC raised its stake in shares of International Business Machines Corporation (NYSE:IBM) by 304.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,643 shares of the technology company’s stock after acquiring an additional 9,520 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in International Business Machines were worth $3,727,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Winslow Asset Management Inc. raised its stake in shares of International Business Machines by 0.7% during the second quarter. Winslow Asset Management Inc. now owns 42,886 shares of the technology company’s stock worth $12,642,000 after purchasing an additional 301 shares during the last quarter. Evergreen Capital Management LLC grew its position in International Business Machines by 5.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 12,604 shares of the technology company’s stock valued at $3,715,000 after buying an additional 704 shares during the last quarter. Strategic Investment Advisors MI increased its stake in International Business Machines by 11.5% in the 2nd quarter. Strategic Investment Advisors MI now owns 1,206 shares of the technology company’s stock valued at $355,000 after buying an additional 124 shares during the period. High Falls Advisors Inc raised its position in International Business Machines by 318.7% during the 2nd quarter. High Falls Advisors Inc now owns 3,944 shares of the technology company’s stock worth $1,163,000 after buying an additional 3,002 shares during the last quarter. Finally, Howland Capital Management LLC lifted its stake in shares of International Business Machines by 34.4% in the 2nd quarter. Howland Capital Management LLC now owns 17,076 shares of the technology company’s stock worth $5,034,000 after acquiring an additional 4,368 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM opened at $309.33 on Friday. The business has a 50 day moving average price of $299.47 and a 200 day moving average price of $278.19. The company has a market capitalization of $289.14 billion, a P/E ratio of 37.00, a PEG ratio of 3.08 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.20. The company had revenue of $16.33 billion for the quarter, compared to analyst estimates 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 revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.30 earnings per share. Sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is 80.38%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IBM shares. Royal Bank Of Canada dropped 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 research note on Thursday, October 23rd. BMO Capital Markets increased their target price on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Erste Group Bank raised International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Finally, Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $293.38.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.