Welch Group LLC lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 309,743 shares of the technology company’s stock after buying an additional 8,318 shares during the period. International Business Machines accounts for approximately 2.3% of Welch Group LLC’s holdings, making the stock its 14th biggest position. Welch Group LLC’s holdings in International Business Machines were worth $68,122,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Assetmark Inc. grew its stake in shares of International Business Machines by 24.8% in the first quarter. Assetmark Inc. now owns 64,458 shares of the technology company’s stock worth $15,624,000 after purchasing an additional 12,791 shares in the last quarter. Flputnam Investment Management Co. bought a new stake in shares of International Business Machines during the second quarter valued at about $15,237,000. Beacon Investment Advisory Services Inc. raised its stake in shares of International Business Machines by 939.4% during the second quarter. Beacon Investment Advisory Services Inc. now owns 30,495 shares of the technology company’s stock valued at $8,575,000 after purchasing an additional 27,561 shares in the last quarter. St. Louis Financial Planners Asset Management LLC lifted its holdings in International Business Machines by 34.6% in the second quarter. St. Louis Financial Planners Asset Management LLC now owns 14,234 shares of the technology company’s stock worth $4,121,000 after purchasing an additional 3,659 shares during the period. Finally, Evercore Wealth Management LLC grew its position in International Business Machines by 9.0% in the 1st quarter. Evercore Wealth Management LLC now owns 62,801 shares of the technology company’s stock valued at $15,222,000 after buying an additional 5,196 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.
Analyst Ratings Changes
IBM has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on shares of International Business Machines from $230.00 to $265.00 and gave the stock a “market perform” rating in a research note on Thursday, October 22nd. Citic Securities boosted their target price on International Business Machines from $294.00 to $297.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Daiwa Securities Group cut their target price on International Business Machines from $247.00 to $217.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Susquehanna increased their price target on International Business Machines from $235.00 to $256.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Finally, Bank of America dropped their price objective on International Business Machines from $330.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.12.
Read Our Latest Report on International Business Machines
Insider Activity
In other news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by company insiders.
International Business Machines Stock Down 0.0%
IBM stock opened at $257.80 on Monday. The firm has a market cap of $243.65 billion, a PE ratio of 21.98, a P/E/G ratio of 2.54 and a beta of 0.78. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $235.17 and a 200 day simple moving average of $249.93.
International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.10. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $16.82 billion. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.65 earnings per share. Equities research analysts forecast that International Business Machines Corporation will post 12.41 earnings per share for the current fiscal year.
International Business Machines Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, November 10th. International Business Machines’s payout ratio is presently 57.63%.
About International Business Machines
International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.
IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.
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