International Business Machines Corporation $IBM Shares Bought by Rede Wealth LLC

Rede Wealth LLC lifted its position in shares of International Business Machines Corporation (NYSE:IBM) by 327.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,176 shares of the technology company’s stock after acquiring an additional 2,433 shares during the period. Rede Wealth LLC’s holdings in International Business Machines were worth $896,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Family CFO Inc acquired a new stake in shares of International Business Machines in the second quarter valued at approximately $25,000. Winnow Wealth LLC bought a new position in International Business Machines in the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC increased its position in International Business Machines by 85.0% in the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after acquiring an additional 51 shares during the period. Silicon Valley Capital Partners raised its stake in International Business Machines by 322.6% during the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Copia Wealth Management boosted its position in International Business Machines by 57.6% during the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock worth $40,000 after acquiring an additional 49 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on IBM shares. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Bank of America raised their target price on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. UBS Group restated a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Royal Bank Of Canada decreased their price objective on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Finally, Jefferies Financial Group raised their price objective on shares of International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and an average target price of $293.38.

International Business Machines Stock Performance

NYSE:IBM opened at $305.22 on Friday. The company has a 50-day moving average of $303.62 and a 200-day moving average of $280.86. The firm has a market cap of $285.30 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 3.04 and a beta of 0.69. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.30 earnings per share. Analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio (DPR) is currently 80.38%.

International Business Machines 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.