Moran Wealth Management LLC Has $4.08 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Moran Wealth Management LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 18,447 shares of the technology company’s stock after purchasing an additional 251 shares during the period. Moran Wealth Management LLC’s holdings in International Business Machines were worth $4,078,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. 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 International Business Machines in the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC lifted its stake in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in International Business Machines in the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IBM shares. Evercore ISI raised their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group raised their price target 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. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Trading Up 2.1 %

Shares of IBM opened at $214.61 on Thursday. 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 $153.51 and a 12-month high of $237.37. The firm has a market capitalization of $198.44 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 4.72 and a beta of 0.71. The stock’s fifty day simple moving average is $219.07 and its 200-day simple moving average is $194.64.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 earnings per share. As a group, 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 will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. International Business Machines’s dividend payout ratio is presently 97.23%.

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.