Wade G W & Inc. increased its position in International Business Machines Co. (NYSE:IBM) by 11.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,281 shares of the technology company’s stock after acquiring an additional 935 shares during the quarter. Wade G W & Inc.’s holdings in International Business Machines were worth $1,129,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. First Trust Advisors LP increased its stake in shares of International Business Machines by 14.8% in the third quarter. First Trust Advisors LP now owns 2,991,072 shares of the technology company’s stock worth $363,924,000 after buying an additional 386,019 shares during the period. Retirement Systems of Alabama lifted its stake in International Business Machines by 73.6% during the 3rd quarter. Retirement Systems of Alabama now owns 658,945 shares of the technology company’s stock valued at $80,174,000 after acquiring an additional 279,308 shares during the period. LSV Asset Management increased its position in shares of International Business Machines by 4.7% during the 3rd quarter. LSV Asset Management now owns 3,298,009 shares of the technology company’s stock valued at $401,268,000 after purchasing an additional 148,686 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of International Business Machines by 34.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 568,117 shares of the technology company’s stock valued at $68,428,000 after purchasing an additional 145,757 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in shares of International Business Machines by 447.5% during the 3rd quarter. Advisors Capital Management LLC now owns 174,346 shares of the technology company’s stock valued at $21,213,000 after purchasing an additional 142,500 shares during the last quarter. Institutional investors and hedge funds own 56.11% of the company’s stock.
NYSE IBM opened at $118.36 on Tuesday. International Business Machines Co. has a 1-year low of $90.56 and a 1-year high of $158.75. The company has a market capitalization of $105.47 billion, a P/E ratio of 13.40, a PEG ratio of 3.76 and a beta of 1.26. The business has a 50 day moving average price of $118.73 and a 200 day moving average price of $121.84. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.05 and a quick ratio of 1.00.
International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Monday, October 19th. The technology company reported $2.58 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.58. The business had revenue of $17.56 billion during the quarter, compared to the consensus estimate of $17.56 billion. International Business Machines had a return on equity of 48.69% and a net margin of 10.53%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.68 earnings per share. On average, research analysts expect that International Business Machines Co. will post 9.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Monday, November 9th. International Business Machines’s dividend payout ratio (DPR) is presently 50.90%.
In related news, Director Alex Gorsky acquired 4,232 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was bought at an average price of $117.86 per share, for a total transaction of $498,783.52. Following the transaction, the director now owns 4,232 shares of the company’s stock, valued at $498,783.52. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sidney Taurel acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were bought at an average price of $110.75 per share, with a total value of $553,750.00. Following the transaction, the director now directly owns 28,798 shares in the company, valued at approximately $3,189,378.50. The disclosure for this purchase can be found here. Insiders have bought 13,387 shares of company stock valued at $1,513,946 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.
Several research analysts have weighed in on IBM shares. Argus upgraded International Business Machines from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Wednesday, July 22nd. Zacks Investment Research lowered International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 target price on the stock. in a research note on Wednesday, October 21st. JPMorgan Chase & Co. raised their price target on International Business Machines from $135.00 to $148.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. BMO Capital Markets cut their target price on International Business Machines from $140.00 to $138.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 20th. Finally, Morgan Stanley lifted their target price on International Business Machines from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $139.06.
About International Business Machines
International Business Machines Corporation operates as an integrated solutions and services company worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.
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