Thurston Springer Miller Herd & Titak Inc. Buys 534 Shares of International Business Machines Co. (NYSE:IBM)

Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,705 shares of the technology company’s stock after buying an additional 534 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in International Business Machines were worth $1,475,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IBM. International Assets Investment Management LLC boosted 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 buying an additional 2,702,340 shares during the last quarter. Holocene Advisors LP acquired a new stake in International Business Machines in the third quarter valued at $573,306,000. State Street Corp grew its position 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 acquiring an additional 1,200,803 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares during 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 during the period. 58.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $217.54 on Wednesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The company’s 50 day moving average price is $222.34 and its two-hundred day moving average price is $210.16. The firm has a market cap of $201.15 billion, a PE ratio of 31.67, a PEG ratio of 5.18 and a beta of 0.74. 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 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The business 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 was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 earnings per share. Equities research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.07%. International Business Machines’s dividend payout ratio is currently 97.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $215.81.

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.