Coastwise Capital Group LLC Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Coastwise Capital Group LLC increased its position in International Business Machines Co. (NYSE:IBM) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,519 shares of the technology company’s stock after acquiring an additional 330 shares during the period. International Business Machines makes up about 1.0% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 26th biggest position. Coastwise Capital Group LLC’s holdings in International Business Machines were worth $1,220,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its position in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in International Business Machines during the second quarter worth $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines in the third quarter worth $5,117,000. Aljian Capital Management LLC purchased a new stake in shares of International Business Machines in the third quarter valued at $611,000. Finally, Focused Wealth Management Inc boosted its stake in shares of 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 valued at $2,504,000 after acquiring an additional 3,887 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IBM shares. UBS Group upped their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Bank of America lifted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Stifel Nicolaus lifted their price objective 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. Finally, Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

Shares of IBM stock opened at $227.41 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business has a 50 day moving average of $220.63 and a two-hundred day moving average of $197.69. The company has a market cap of $210.27 billion, a P/E ratio of 33.10, a PEG ratio of 5.11 and a beta of 0.71. International Business Machines Co. has a 52 week low of $156.89 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during 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 firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. As a group, analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced 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. This represents a $6.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.