International Business Machines Co. (NYSE:IBM) Shares Bought by Benjamin Edwards Inc.

Benjamin Edwards Inc. boosted its position in International Business Machines Co. (NYSE:IBM) by 2,833.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 92,145 shares of the technology company’s stock after buying an additional 89,004 shares during the period. Benjamin Edwards Inc.’s holdings in International Business Machines were worth $20,374,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc grew its holdings in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after buying an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the last quarter. FMR LLC increased its position in International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after purchasing an additional 294,276 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after purchasing an additional 304,390 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after purchasing an additional 12,400 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IBM. Evercore ISI boosted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Three equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Up 0.2 %

Shares of NYSE IBM opened at $227.41 on Monday. The stock has a fifty day moving average price of $220.63 and a 200 day moving average price of $197.69. The company has a market cap of $210.27 billion, a P/E ratio of 33.10, a P/E/G ratio of 5.11 and a beta of 0.71. International Business Machines Co. has a 12-month low of $156.89 and a 12-month high of $237.37. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced 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. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $2.20 EPS. Research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company 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 $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now 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 document filed with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

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.