International Business Machines Co. (NYSE:IBM) Position Raised by Zacks Investment Management

Zacks Investment Management increased its position in shares of International Business Machines Co. (NYSE:IBM) by 41.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,553 shares of the technology company’s stock after purchasing an additional 116,668 shares during the period. Zacks Investment Management’s holdings in International Business Machines were worth $88,333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Lantz Financial LLC raised its holdings in International Business Machines by 0.9% during the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after purchasing an additional 107 shares in the last quarter. Atlas Private Wealth Advisors acquired a new stake in shares of International Business Machines during the 2nd quarter valued at $291,000. Cypress Wealth Services LLC lifted its position in shares of International Business Machines by 4.6% during the 2nd quarter. Cypress Wealth Services LLC now owns 1,396 shares of the technology company’s stock valued at $241,000 after acquiring an additional 61 shares during the last quarter. Biltmore Wealth Management LLC acquired a new stake in shares of International Business Machines during the 2nd quarter valued at $205,000. Finally, Northwest Quadrant Wealth Management LLC lifted its position in shares of International Business Machines by 17.8% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 2,285 shares of the technology company’s stock valued at $395,000 after acquiring an additional 346 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of recent research reports. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Performance

Shares of IBM opened at $238.05 on Friday. The firm has a market cap of $220.11 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 5.24 and a beta of 0.73. The company’s fifty day moving average is $221.40 and its 200-day moving average is $199.02. 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 12 month low of $157.88 and a 12 month high of $238.38.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (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 analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. Equities analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated 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. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

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.