International Business Machines Co. (NYSE:IBM) Shares Acquired by Westside Investment Management Inc.

Westside Investment Management Inc. increased its position in shares of International Business Machines Co. (NYSE:IBM) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 919 shares of the technology company’s stock after buying an additional 100 shares during the period. Westside Investment Management Inc.’s holdings in International Business Machines were worth $188,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. increased its stake in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of International Business Machines in the 2nd quarter worth about $7,160,000. Philip James Wealth Mangement LLC bought a new stake in shares of International Business Machines in the 3rd quarter worth about $5,117,000. Aljian Capital Management LLC bought a new position in shares of International Business Machines during the third quarter worth about $611,000. Finally, Focused Wealth Management Inc grew its stake in International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Jefferies Financial Group raised 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 report on Monday, October 21st. Finally, BMO Capital Markets boosted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Three investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Up 0.9 %

IBM stock opened at $232.26 on Friday. The firm’s 50-day moving average is $222.38 and its two-hundred day moving average is $200.91. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $214.76 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. International Business Machines Co. has a 52 week low of $157.88 and a 52 week high of $239.35.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 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 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is owned by corporate insiders.

About International Business Machines

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.