International Business Machines Co. (NYSE:IBM) Shares Acquired by Claro Advisors LLC

Claro Advisors LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 18.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,693 shares of the technology company’s stock after purchasing an additional 1,031 shares during the quarter. Claro Advisors LLC’s holdings in International Business Machines were worth $1,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Patten & Patten Inc. TN grew its holdings in International Business Machines by 7.7% during the 1st quarter. Patten & Patten Inc. TN now owns 6,572 shares of the technology company’s stock worth $1,255,000 after acquiring an additional 468 shares in the last quarter. Edgestream Partners L.P. raised its stake in International Business Machines by 119.6% during the first quarter. Edgestream Partners L.P. now owns 9,127 shares of the technology company’s stock valued at $1,743,000 after buying an additional 4,971 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of International Business Machines in the 1st quarter worth approximately $611,000. Covestor Ltd increased its holdings in shares of International Business Machines by 25.6% in the 1st quarter. Covestor Ltd now owns 1,217 shares of the technology company’s stock valued at $232,000 after acquiring an additional 248 shares during the last quarter. Finally, Davis R M Inc. raised its position in shares of International Business Machines by 0.9% during the 1st quarter. Davis R M Inc. now owns 7,542 shares of the technology company’s stock valued at $1,440,000 after acquiring an additional 65 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBM. Bank of America boosted 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 note on Wednesday, October 9th. The Goldman Sachs Group lifted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. BMO Capital Markets lifted their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $208.12.

Insider Transactions at International Business Machines

In related 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $204.99 on Friday. International Business Machines Co. has a fifty-two week low of $152.13 and a fifty-two week high of $237.37. The company has a market capitalization of $189.54 billion, a P/E ratio of 29.84, a PEG ratio of 4.60 and a beta of 0.71. The company has a 50-day simple moving average of $218.79 and a 200 day simple moving average of $193.67. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

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 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 company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the business posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts predict that International Business Machines Co. will post 10.12 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. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

International Business Machines Company 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.