United Bank Has $1.24 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

United Bank increased its position in shares of International Business Machines Co. (NYSE:IBM) by 53.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,628 shares of the technology company’s stock after purchasing an additional 1,956 shares during the quarter. United Bank’s holdings in International Business Machines were worth $1,244,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in IBM. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the 1st quarter worth about $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines in the 1st quarter valued at about $28,000. Hazlett Burt & Watson Inc. increased its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines in the 3rd quarter valued at about $29,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $213.66 on Friday. The company has a market cap of $197.56 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a 1-year low of $145.28 and a 1-year high of $237.37. The company’s fifty day simple moving average is $218.02 and its 200 day simple moving average is $192.24. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 earnings per share. On average, research analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.13%. International Business Machines’s payout ratio is 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IBM shares. Bank of America raised their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.12.

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.