Pathstone Holdings LLC Purchases 3,558 Shares of International Business Machines Co. (NYSE:IBM)

Pathstone Holdings LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,093 shares of the technology company’s stock after purchasing an additional 3,558 shares during the quarter. Pathstone Holdings LLC’s holdings in International Business Machines were worth $25,445,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Ellenbecker Investment Group increased its holdings in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares during the period. Goldstein Advisors LLC grew its stake in International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the last quarter. Sollinda Capital Management LLC grew its stake in 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 last quarter. Lansing Street Advisors raised its holdings in International Business Machines by 3.4% in 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 in the last quarter. Finally, Ascent Wealth Partners LLC boosted its holdings in shares of International Business Machines by 0.7% in the 3rd quarter. Ascent Wealth Partners LLC now owns 7,144 shares of the technology company’s stock valued at $1,579,000 after buying an additional 49 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IBM. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, nine have issued 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 target price of $208.12.

International Business Machines Price Performance

NYSE:IBM opened at $210.31 on Wednesday. The company has a 50 day moving average price of $218.98 and a 200-day moving average price of $194.50. International Business Machines Co. has a 1-year low of $152.35 and a 1-year high of $237.37. The firm has a market cap of $194.46 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

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

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 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.