Financial Partners Group LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,635 shares of the technology company’s stock after selling 251 shares during the quarter. Financial Partners Group LLC’s holdings in International Business Machines were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of IBM. International Assets Investment Management LLC grew its holdings in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the period. Holocene Advisors LP bought a new position in shares of International Business Machines during the 3rd quarter worth about $573,306,000. State Street Corp grew its stake in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the period. Eagle Asset Management Inc. increased its position in International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after buying an additional 536,785 shares in the last quarter. Finally, KBC Group NV increased its position in International Business Machines by 103.1% in the 3rd quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after buying an additional 449,912 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on IBM. Jefferies Financial Group raised 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. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Finally, Bank of America upped their target price on shares of International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $220.73.
International Business Machines Stock Up 1.1 %
IBM stock opened at $225.63 on Friday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The stock has a market cap of $208.63 billion, a P/E ratio of 32.84, a P/E/G ratio of 4.78 and a beta of 0.74. The stock’s fifty day simple moving average is $223.60 and its two-hundred day simple moving average is $211.90. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.
International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the company posted $2.20 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.16 EPS for the current year.
International Business Machines Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.96%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.
Insider Activity at International Business Machines
In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.07% of the stock is owned by company insiders.
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.
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