Foster Victor Wealth Advisors LLC Raises Stake in International Business Machines Corporation $IBM

Foster Victor Wealth Advisors LLC boosted its stake in International Business Machines Corporation (NYSE:IBM) by 2,905.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,397 shares of the technology company’s stock after purchasing an additional 52,587 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in International Business Machines were worth $15,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vise Technologies Inc. purchased a new stake in International Business Machines in the 2nd quarter worth approximately $16,565,000. Vanguard Group Inc. raised its position in shares of International Business Machines by 2.1% in the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after buying an additional 1,913,708 shares in the last quarter. Thames Capital Management LLC bought a new stake in International Business Machines during the second quarter valued at $2,710,000. CWM LLC boosted its stake in International Business Machines by 3.0% during the second quarter. CWM LLC now owns 122,623 shares of the technology company’s stock valued at $36,147,000 after buying an additional 3,537 shares during the period. Finally, Quent Capital LLC grew its position in International Business Machines by 34.5% during the second quarter. Quent Capital LLC now owns 5,526 shares of the technology company’s stock worth $1,629,000 after buying an additional 1,417 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.2%

IBM stock opened at $300.94 on Friday. The company has a market capitalization of $281.30 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 3.00 and a beta of 0.69. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90. The company’s 50 day moving average price is $301.03 and its two-hundred day moving average price is $279.66.

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 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 firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.30 EPS. As a group, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were issued a $1.68 dividend. The ex-dividend date was Monday, November 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. International Business Machines’s payout ratio is currently 80.38%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research analyst reports. UBS Group reiterated a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Bank of America lifted 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 report on Thursday, October 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. Finally, Morgan Stanley reduced their target price on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $293.38.

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.