Patton Albertson Miller Group LLC Has $5.84 Million Stake in International Business Machines Co. (NYSE:IBM)

Patton Albertson Miller Group LLC raised its position in shares of International Business Machines Co. (NYSE:IBM) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,551 shares of the technology company’s stock after purchasing an additional 214 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in International Business Machines were worth $5,837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hazlett Burt & Watson Inc. lifted its stake in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines in the third quarter worth approximately $29,000. Avondale Wealth Management boosted its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines during the second quarter valued at approximately $36,000. Finally, Modus Advisors LLC acquired a new position in International Business Machines in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IBM. Jefferies Financial Group boosted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. 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. Bank of America increased their price objective on International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday. Finally, DZ Bank cut shares of 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $220.73.

International Business Machines Trading Down 0.6 %

Shares of NYSE:IBM opened at $224.69 on Friday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market cap of $207.75 billion, a P/E ratio of 32.71, a P/E/G ratio of 4.78 and a beta of 0.74. The stock’s 50-day moving average is $224.33 and its 200-day moving average is $212.32.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $15.08 billion. During the same period in the previous year, the business posted $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Insider Buying and Selling at International Business Machines

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

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.