International Business Machines Co. (NYSE:IBM) Shares Bought by Ascent Group LLC

Ascent Group LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,079 shares of the technology company’s stock after acquiring an additional 771 shares during the period. Ascent Group LLC’s holdings in International Business Machines were worth $2,892,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines in the third quarter worth $29,000. Capital Performance Advisors LLP acquired a new position in International Business Machines during the third quarter worth $43,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the second quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC grew its position in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of several research analyst reports. Evercore ISI raised their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. DZ Bank downgraded 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. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley lowered their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $208.12.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s 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 transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

IBM opened at $227.41 on Monday. The company has a fifty day moving average price of $220.63 and a two-hundred day moving average price of $197.69. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52 week low of $156.89 and a 52 week high of $237.37. The firm has a market capitalization of $210.27 billion, a PE ratio of 33.10, a P/E/G ratio of 5.11 and a beta of 0.71.

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

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.94%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.