The Manufacturers Life Insurance Company Boosts Position in International Business Machines Co. (NYSE:IBM)

The Manufacturers Life Insurance Company increased its stake in International Business Machines Co. (NYSE:IBM) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 585,188 shares of the technology company’s stock after acquiring an additional 5,540 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in International Business Machines were worth $129,373,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased 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 buying an additional 116 shares during the period. Hara Capital LLC bought a new position in International Business Machines during the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines during the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC grew its holdings in International Business Machines by 37.0% during 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 bought a new position in International Business Machines during the 3rd quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.2 %

IBM stock opened at $228.85 on Wednesday. The firm has a 50 day moving average of $219.93 and a 200 day moving average of $196.43. The stock has a market capitalization of $211.61 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 5.08 and a beta of 0.71. 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 52 week low of $154.75 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the business earned $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley dropped their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $208.12.

Insiders Place Their Bets

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 shares were 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 directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by insiders.

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.