New England Asset Management Inc. Has $7.33 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

New England Asset Management Inc. grew its position in International Business Machines Co. (NYSE:IBM) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,175 shares of the technology company’s stock after purchasing an additional 975 shares during the period. International Business Machines makes up approximately 1.1% of New England Asset Management Inc.’s investment portfolio, making the stock its 29th largest holding. New England Asset Management Inc.’s holdings in International Business Machines were worth $7,334,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IBM. Meeder Advisory Services Inc. boosted its holdings in shares of International Business Machines by 5.2% during the third quarter. Meeder Advisory Services Inc. now owns 15,849 shares of the technology company’s stock worth $3,504,000 after acquiring an additional 788 shares during the period. Spectrum Wealth Advisory Group LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth $221,000. MidAtlantic Capital Management Inc. acquired a new stake in International Business Machines in the third quarter valued at approximately $96,000. Cassaday & Co Wealth Management LLC grew its holdings in shares of International Business Machines by 1.8% during the third quarter. Cassaday & Co Wealth Management LLC now owns 13,084 shares of the technology company’s stock worth $2,893,000 after purchasing an additional 232 shares during the last quarter. Finally, Drive Wealth Management LLC acquired a new position in International Business Machines in the 3rd quarter valued at approximately $339,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 1.5 %

International Business Machines stock opened at $208.09 on Tuesday. International Business Machines Co. has a one year low of $152.35 and a one year high of $237.37. The business’s fifty day moving average is $218.88 and its 200 day moving average is $194.18. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market capitalization of $192.41 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 earnings per share. On average, sell-side analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend 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 currently 97.23%.

Insider Activity at International Business Machines

In other 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 transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on IBM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. 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 report on Monday, October 21st. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. 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. Finally, UBS Group boosted their price target 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.