1,070 Shares in International Business Machines Co. (NYSE:IBM) Bought by Peterson Financial Group Inc.

Peterson Financial Group Inc. bought a new position in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 1,070 shares of the technology company’s stock, valued at approximately $237,000.

Other large investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines during the second quarter worth $7,160,000. Philip James Wealth Mangement LLC bought a new stake in International Business Machines during the third quarter worth $5,117,000. Focused Wealth Management Inc raised its position in International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after acquiring an additional 3,887 shares in the last quarter. QRG Capital Management Inc. raised its position in International Business Machines by 4.5% during the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after acquiring an additional 6,004 shares in the last quarter. Finally, F M Investments LLC raised its position in International Business Machines by 39.6% during the third quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock worth $13,696,000 after acquiring an additional 17,554 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on IBM. Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Trading Down 1.9 %

IBM stock opened at $204.99 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company’s 50-day simple moving average is $218.79 and its 200 day simple moving average is $193.67. International Business Machines Co. has a 52 week low of $152.13 and a 52 week high of $237.37. The company has a market capitalization of $189.54 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71.

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, beating the consensus estimate 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 business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the company posted $2.20 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.26%. International Business Machines’s payout ratio is 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

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.