Patten & Patten Inc. TN Has $1.38 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Patten & Patten Inc. TN trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,225 shares of the technology company’s stock after selling 164 shares during the period. Patten & Patten Inc. TN’s holdings in International Business Machines were worth $1,376,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares during the last quarter. Legal & General Group Plc raised its holdings in International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after acquiring an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. boosted its position in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of International Business Machines by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the topic of a number of recent analyst reports. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Finally, Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Down 0.0 %

NYSE IBM opened at $213.62 on Tuesday. The stock’s 50 day moving average is $218.02 and its 200 day moving average is $192.36. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $197.52 billion, a PE ratio of 31.09, a P/E/G ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a twelve month low of $147.35 and a twelve month high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the company posted $2.20 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines’s payout ratio is 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.