Oddo BHF Asset Management Sas Purchases Shares of 24,406 International Business Machines Co. (NYSE:IBM)

Oddo BHF Asset Management Sas acquired a new stake in International Business Machines Co. (NYSE:IBM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,406 shares of the technology company’s stock, valued at approximately $5,396,000.

A number of other hedge funds and other institutional investors have also modified their holdings of IBM. International Assets Investment Management LLC raised its holdings in shares of 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 purchasing an additional 2,702,340 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of International Business Machines in the 3rd quarter valued at $573,306,000. State Street Corp raised its holdings in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of International Business Machines by 306.3% in the 2nd 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 in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of International Business Machines by 587.1% in the 3rd 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. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’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 sale, the senior vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IBM shares. 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 report on Thursday, October 3rd. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. BMO Capital Markets lifted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Up 0.2 %

Shares of NYSE:IBM opened at $232.70 on Friday. The company has a market cap of $215.16 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 5.17 and a beta of 0.73. The firm’s 50-day simple moving average is $222.57 and its 200-day simple moving average is $201.12. 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 fifty-two week low of $157.88 and a fifty-two week high of $239.35.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 earnings per share. As a group, equities research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

International Business Machines Company 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.