International Business Machines Co. (NYSE:IBM) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,423,795 shares of the technology company’s stock after purchasing an additional 85,707 shares during the period. HighTower Advisors LLC owned approximately 0.15% of International Business Machines worth $314,762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. grew its holdings in 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 valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines in the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the 2nd quarter valued at about $36,000. Wolff Wiese Magana LLC increased its holdings in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in International Business Machines during the third quarter worth about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $227.40 on Tuesday. The company has a market cap of $210.27 billion, a P/E ratio of 33.10, a P/E/G ratio of 5.11 and a beta of 0.73. The firm’s 50 day moving average is $220.63 and its two-hundred day moving average is $197.69. International Business Machines Co. has a fifty-two week low of $157.88 and a fifty-two week high of $237.37. 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 (NYSE:IBM) last released 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. 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 the consensus estimate of $15.08 billion. During the same period in the prior year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America increased their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.12.

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.