Brooklyn Investment Group Has $1.09 Million Position in International Business Machines Co. (NYSE:IBM)

Brooklyn Investment Group lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,939 shares of the technology company’s stock after selling 58 shares during the period. Brooklyn Investment Group’s holdings in International Business Machines were worth $1,092,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. raised its position in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines in the 3rd quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $36,000. Wolff Wiese Magana LLC grew its holdings in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of International Business Machines during the third quarter valued at approximately $43,000. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Finally, 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 report on Wednesday, October 16th. Three 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. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $208.12.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is currently owned by company insiders.

International Business Machines Trading Up 1.5 %

Shares of IBM opened at $226.25 on Tuesday. 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 has a market cap of $209.20 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 5.01 and a beta of 0.71. The stock has a fifty day moving average price of $219.63 and a two-hundred day moving average price of $196.00. International Business Machines Co. has a 52-week low of $154.75 and a 52-week high of $237.37.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 2.95%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

International Business Machines 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.