Greenwood Capital Associates LLC Purchases 8,164 Shares of International Business Machines Corporation $IBM

Greenwood Capital Associates LLC raised its holdings in International Business Machines Corporation (NYSE:IBM) by 20.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,153 shares of the technology company’s stock after acquiring an additional 8,164 shares during the quarter. International Business Machines comprises approximately 1.5% of Greenwood Capital Associates LLC’s holdings, making the stock its 10th largest position. Greenwood Capital Associates LLC’s holdings in International Business Machines were worth $13,305,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Family CFO Inc acquired a new stake in shares of International Business Machines in the 2nd quarter valued at $25,000. Winnow Wealth LLC acquired a new stake in shares of International Business Machines in the second quarter worth about $27,000. Highline Wealth Partners LLC lifted its position in shares of International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Silicon Valley Capital Partners increased its holdings in shares of 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 during the last quarter. Finally, Copia Wealth Management increased its holdings in shares of International Business Machines by 57.6% during the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock valued at $40,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IBM shares. Oppenheimer initiated coverage on International Business Machines in a report on Friday, November 21st. They issued an “outperform” rating and a $360.00 target price for the company. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Bank of America lifted their target price on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Morgan Stanley decreased their price target on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Trading Up 0.2%

Shares of IBM stock opened at $305.22 on Friday. 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 1 year low of $214.50 and a 1 year high of $324.90. The firm’s fifty day simple moving average is $303.62 and its 200 day simple moving average is $280.83. The firm has a market capitalization of $285.30 billion, a P/E ratio of 36.51, a price-to-earnings-growth ratio of 3.03 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping 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 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 last year, the business posted $2.30 EPS. As a group, sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

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