InvesTrust Acquires Shares of 35,691 International Business Machines Co. (NYSE:IBM)

InvesTrust bought a new position in shares of International Business Machines Co. (NYSE:IBMFree Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 35,691 shares of the technology company’s stock, valued at approximately $7,851,000. International Business Machines accounts for 2.2% of InvesTrust’s investment portfolio, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. State Street Corp raised its position in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. Legal & General Group Plc lifted its stake in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the period. FMR LLC increased its position in International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after buying an additional 294,276 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after buying an additional 304,390 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’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 transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Down 0.1 %

IBM stock traded down $0.33 during midday trading on Wednesday, hitting $223.63. The company’s stock had a trading volume of 1,259,638 shares, compared to its average volume of 2,762,877. The firm’s 50-day moving average is $221.01 and its 200-day moving average is $208.49. The company has a market cap of $206.78 billion, a PE ratio of 32.55, a P/E/G ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 12 month low of $159.51 and a 12 month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBMGet Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for 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 quarter in the previous year, the company earned $2.20 EPS. On average, equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 2.99%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bank of America lifted their price target 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. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upped their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Two equities research 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. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $214.88.

Check Out Our Latest Research Report on International Business Machines

About International Business Machines

(Free Report)

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.

See Also

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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