First Nebraska Trust Co purchased a new position in shares of International Business Machines Corporation (NYSE:IBM – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 13,733 shares of the technology company’s stock, valued at approximately $3,020,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Challenger Wealth Management lifted its stake in shares of International Business Machines by 5.5% in the 3rd quarter. Challenger Wealth Management now owns 1,901 shares of the technology company’s stock valued at $418,000 after purchasing an additional 99 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its stake in International Business Machines by 18.1% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,090 shares of the technology company’s stock worth $900,000 after purchasing an additional 628 shares during the period. Signature Equity Partners LLC grew its stake in International Business Machines by 11.2% during the third quarter. Signature Equity Partners LLC now owns 467 shares of the technology company’s stock worth $103,000 after purchasing an additional 47 shares during the period. XML Financial LLC grew its stake in International Business Machines by 1.8% during the third quarter. XML Financial LLC now owns 29,744 shares of the technology company’s stock worth $6,542,000 after purchasing an additional 519 shares during the period. Finally, Summit Wealth Group LLC Co. increased its holdings in International Business Machines by 18.2% in the third quarter. Summit Wealth Group LLC Co. now owns 2,311 shares of the technology company’s stock worth $508,000 after purchasing an additional 356 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.
Insider Transactions at International Business Machines
In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the sale, the senior vice president owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on IBM shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $270.00 price objective on shares of International Business Machines in a research note on Thursday, October 22nd. Susquehanna boosted their target price on shares of International Business Machines from $235.00 to $256.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Craig Hallum began coverage on shares of International Business Machines in a research note on Wednesday, August 19th. They set a “buy” rating on the stock. Citigroup raised their price target on shares of International Business Machines from $245.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Finally, Argus decreased their price target on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Nineteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and an average price target of $266.12.
View Our Latest Stock Analysis on International Business Machines
International Business Machines Trading Down 1.1%
Shares of International Business Machines stock opened at $249.83 on Wednesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.80 and a current ratio of 0.85. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46. The stock has a 50 day moving average price of $235.88 and a two-hundred day moving average price of $249.39. The stock has a market capitalization of $236.12 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78.
International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.85 by $0.10. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $16.82 billion. During the same quarter in the previous year, the company posted $2.65 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that International Business Machines Corporation will post 12.41 earnings per share for the current fiscal year.
International Business Machines Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be given a $1.69 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $6.76 annualized dividend and a yield of 2.7%. International Business Machines’s dividend payout ratio (DPR) is presently 57.63%.
International Business Machines Company Profile
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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