1,250 Shares in International Business Machines Co. (NYSE:IBM) Purchased by Darden Wealth Group Inc

Darden Wealth Group Inc purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the third quarter, according to its most recent filing with the SEC. The firm purchased 1,250 shares of the technology company’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines in the second quarter valued at $7,160,000. Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines in the third quarter valued at $5,117,000. Aljian Capital Management LLC acquired a new position in International Business Machines in the 3rd quarter valued at about $611,000. Finally, Focused Wealth Management Inc lifted its holdings in International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IBM shares. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Up 3.6 %

Shares of IBM opened at $222.30 on Friday. 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 Co. has a 12 month low of $153.92 and a 12 month high of $237.37. The stock has a market cap of $205.55 billion, a PE ratio of 32.36, a P/E/G ratio of 4.72 and a beta of 0.71. The stock’s 50-day moving average is $219.29 and its two-hundred day moving average is $194.83.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 3.01%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insiders Place Their Bets

In other 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 sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company 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.