Fmr LLC Buys 294,276 Shares of International Business Machines Co. (NYSE:IBM)

Fmr LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.0% during the third quarter, HoldingsChannel.com reports. The fund owned 5,195,933 shares of the technology company’s stock after purchasing an additional 294,276 shares during the period. Fmr LLC’s holdings in International Business Machines were worth $1,148,717,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Ellenbecker Investment Group boosted its holdings in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares during the period. Goldstein Advisors LLC grew its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after buying an additional 47 shares in the last quarter. Vertex Planning Partners LLC increased its stake in International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after acquiring an additional 47 shares during the period. Sollinda Capital Management LLC lifted its position in shares of International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after acquiring an additional 49 shares during the period. Finally, Lansing Street Advisors grew its holdings in shares of International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after purchasing an additional 49 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 0.8 %

Shares of NYSE:IBM opened at $226.99 on Thursday. The business has a fifty day simple moving average of $220.17 and a 200 day simple moving average of $196.64. International Business Machines Co. has a 12-month low of $154.86 and a 12-month high of $237.37. The firm has a market cap of $209.89 billion, a P/E ratio of 33.04, a P/E/G ratio of 5.08 and a beta of 0.71. 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 (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IBM shares. UBS Group upped 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. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley cut their target price on 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. Finally, Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

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.