Patton Albertson Miller Group LLC Acquires 1,087 Shares of International Business Machines Co. (NYSE:IBM)

Patton Albertson Miller Group LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,337 shares of the technology company’s stock after acquiring an additional 1,087 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in International Business Machines were worth $5,823,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in International Business Machines by 1.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 585,188 shares of the technology company’s stock worth $129,373,000 after acquiring an additional 5,540 shares during the last quarter. Longfellow Investment Management Co. LLC increased its position in shares of International Business Machines by 0.6% during the third quarter. Longfellow Investment Management Co. LLC now owns 9,208 shares of the technology company’s stock worth $2,036,000 after buying an additional 55 shares during the period. Diversified LLC increased its position in shares of International Business Machines by 37.9% during the third quarter. Diversified LLC now owns 5,767 shares of the technology company’s stock worth $1,275,000 after buying an additional 1,586 shares during the period. Truvestments Capital LLC increased its position in shares of International Business Machines by 12.9% during the third quarter. Truvestments Capital LLC now owns 2,577 shares of the technology company’s stock worth $570,000 after buying an additional 294 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of International Business Machines by 4.8% during the third quarter. Brown Brothers Harriman & Co. now owns 45,488 shares of the technology company’s stock worth $10,056,000 after buying an additional 2,094 shares during the period. 58.96% of the stock is owned by institutional investors.

Insider Activity

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 completion of the sale, the senior vice president now directly owns 25,390 shares in the company, 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 SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IBM shares. Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Bank of America increased their price objective 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. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, Bernstein Bank increased their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. 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. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Price Performance

IBM opened at $226.25 on Tuesday. The firm has a 50-day moving average price of $219.63 and a 200-day moving average price of $196.00. 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 twelve month low of $154.75 and a twelve month high of $237.37. The company has a market capitalization of $209.20 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 5.01 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the business earned $2.20 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given 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 (DPR) is currently 97.23%.

International Business Machines 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.