International Business Machines Co. (NYSE:IBM) Shares Bought by Planning Capital Management Corp

Planning Capital Management Corp boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,474 shares of the technology company’s stock after buying an additional 81 shares during the period. Planning Capital Management Corp’s holdings in International Business Machines were worth $326,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the 1st quarter valued at $28,000. Hazlett Burt & Watson Inc. raised its holdings in shares of International Business Machines by 1,054.5% in the 3rd 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 in the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the 2nd quarter valued at $36,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IBM shares. BMO Capital Markets raised their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Bank of America increased their target price 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. The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Up 0.0 %

Shares of NYSE IBM opened at $210.91 on Thursday. 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 stock has a market capitalization of $195.02 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The firm has a 50-day moving average price of $218.58 and a 200 day moving average price of $193.11. International Business Machines Co. has a 52 week low of $149.05 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last announced its earnings results 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. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. Equities research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current fiscal 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 given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

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.