Carlson Capital Management Invests $252,000 in International Business Machines Co. (NYSE:IBM)

Carlson Capital Management bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,141 shares of the technology company’s stock, valued at approximately $252,000.

Several other hedge funds have also added to or reduced their stakes in IBM. International Assets Investment Management LLC raised its holdings in International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. Thrivent Financial for Lutherans raised its position in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after purchasing an additional 536,785 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares during the period. Finally, KBC Group NV raised its holdings in International Business Machines by 103.1% in the 3rd quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after buying an additional 449,912 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.0 %

Shares of International Business Machines stock traded up $0.05 during midday trading on Tuesday, hitting $226.18. The company had a trading volume of 904,757 shares, compared to its average volume of 4,235,964. The company has a 50 day moving average of $219.63 and a 200 day moving average of $196.00. The stock has a market capitalization of $209.14 billion, a P/E ratio of 32.93, a P/E/G ratio of 5.01 and a beta of 0.71. International Business Machines Co. has a 52-week low of $154.75 and a 52-week high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.95%. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred 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 of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. The Goldman Sachs Group raised their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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.