Kestra Investment Management LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Kestra Investment Management LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,041 shares of the technology company’s stock, valued at approximately $672,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. boosted its holdings in shares of International Business Machines by 1,054.5% in the 3rd 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 period. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the second quarter valued at approximately $36,000. Wolff Wiese Magana LLC lifted its holdings in shares of International Business Machines by 37.0% in 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 during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in International Business Machines during the 3rd quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on IBM. Bank of America raised 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. UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI increased their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade 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 the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $227.41 on Monday. The stock’s fifty day simple moving average is $220.63 and its 200 day simple moving average is $197.69. The stock has a market capitalization of $210.27 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 5.11 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. 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 posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm 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 business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 EPS. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. International Business Machines’s payout ratio 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.