Carnegie Investment Counsel Purchases 1,680 Shares of International Business Machines Co. (NYSE:IBM)

Carnegie Investment Counsel lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 4.6% during the 4th quarter, HoldingsChannel reports. The firm owned 38,126 shares of the technology company’s stock after acquiring an additional 1,680 shares during the period. Carnegie Investment Counsel’s holdings in International Business Machines were worth $8,381,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. Holocene Advisors LP bought a new stake in International Business Machines in the third quarter worth $573,306,000. State Street Corp boosted its holdings in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after acquiring an additional 536,785 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. UBS Group boosted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group boosted 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. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $215.81.

International Business Machines Stock Performance

Shares of IBM opened at $222.54 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business has a 50-day simple moving average of $222.47 and a two-hundred day simple moving average of $210.23. The stock has a market cap of $205.77 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35.

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 analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.20 earnings per share. On average, analysts expect that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

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.