InvesTrust Acquires Shares of 35,691 International Business Machines Co. (NYSE:IBM)

InvesTrust purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel reports. The fund purchased 35,691 shares of the technology company’s stock, valued at approximately $7,851,000. International Business Machines makes up 2.2% of InvesTrust’s holdings, making the stock its 13th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of IBM. Ellenbecker Investment Group grew its position in International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC lifted its position in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the period. Vertex Planning Partners LLC grew its stake in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after purchasing an additional 47 shares during the last quarter. Sollinda Capital Management LLC increased its holdings in shares of International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the period. Finally, Lansing Street Advisors lifted its holdings in shares of International Business Machines by 3.4% during the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after purchasing an additional 49 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the subject of several analyst reports. BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Evercore ISI lifted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group increased their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Morgan Stanley boosted their price target on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $214.88.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

International Business Machines Trading Down 0.1 %

IBM stock traded down $0.33 during midday trading on Wednesday, hitting $223.63. The stock had a trading volume of 1,259,638 shares, compared to its average volume of 2,762,877. The company’s 50-day moving average price is $221.01 and its 200 day moving average price is $208.49. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market cap of $206.78 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 12-month low of $159.51 and a 12-month high of $239.35.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating 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 firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.99%. International Business Machines’s payout ratio is currently 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.