International Business Machines Co. (NYSE:IBM) Shares Bought by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 12.4% during the 3rd quarter, Holdings Channel reports. The firm owned 46,098 shares of the technology company’s stock after buying an additional 5,077 shares during the period. WealthPlan Investment Management LLC’s holdings in International Business Machines were worth $10,191,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IBM. ESL Trust Services LLC purchased a new stake in shares of International Business Machines during the first quarter worth $28,000. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC grew its position in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IBM shares. Morgan Stanley decreased their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Bank of America raised their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $213.62 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a fifty-two week low of $147.35 and a fifty-two week high of $237.37. The business has a fifty day moving average of $218.25 and a 200-day moving average of $192.68. The stock has a market cap of $197.52 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

International Business Machines Company Profile

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.