Chesapeake Wealth Management Has $522,000 Position in International Business Machines Co. (NYSE:IBM)

Chesapeake Wealth Management raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.2% in the third quarter, HoldingsChannel.com reports. The firm owned 2,363 shares of the technology company’s stock after buying an additional 179 shares during the period. Chesapeake Wealth Management’s holdings in International Business Machines were worth $522,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Edgestream Partners L.P. lifted its holdings in shares of International Business Machines by 119.6% in the first quarter. Edgestream Partners L.P. now owns 9,127 shares of the technology company’s stock worth $1,743,000 after buying an additional 4,971 shares in the last quarter. Bahl & Gaynor Inc. grew its position in International Business Machines by 1.4% during the first quarter. Bahl & Gaynor Inc. now owns 8,400 shares of the technology company’s stock valued at $1,604,000 after acquiring an additional 116 shares during the last quarter. Bessemer Group Inc. grew its position in International Business Machines by 31.8% during the first quarter. Bessemer Group Inc. now owns 71,057 shares of the technology company’s stock valued at $13,569,000 after acquiring an additional 17,144 shares during the last quarter. Lake Street Advisors Group LLC grew its position in International Business Machines by 25.8% during the first quarter. Lake Street Advisors Group LLC now owns 4,455 shares of the technology company’s stock valued at $851,000 after acquiring an additional 915 shares during the last quarter. Finally, Pitcairn Co. grew its holdings in shares of International Business Machines by 9.4% in the first quarter. Pitcairn Co. now owns 5,180 shares of the technology company’s stock worth $989,000 after purchasing an additional 444 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 $208.09 on Tuesday. The company has a market cap of $192.41 billion, a P/E ratio of 30.29, a P/E/G ratio of 4.60 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The business’s 50 day moving average price is $218.88 and its 200-day moving average price is $194.18. International Business Machines Co. has a fifty-two week low of $152.35 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM) last released 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. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 EPS. Sell-side analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. BMO Capital Markets raised their price objective on 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. Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Evercore ISI raised their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $208.12.

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.