1,307 Shares in International Business Machines Co. (NYSE:IBM) Bought by Adero Partners LLC

Adero Partners LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,307 shares of the technology company’s stock, valued at approximately $289,000.

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after acquiring an additional 2,702,340 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans lifted its holdings in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after acquiring an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC lifted its holdings in International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the period. Finally, KBC Group NV lifted its holdings in International Business Machines by 103.1% in the third quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after acquiring an additional 449,912 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IBM shares. Evercore ISI raised their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group raised their price target 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. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Down 1.9 %

IBM opened at $204.99 on Monday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market capitalization of $189.54 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The business has a 50-day moving average of $218.79 and a two-hundred day moving average of $193.88. International Business Machines Co. has a 12 month low of $152.13 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. On average, research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

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 paid a $1.67 dividend. 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 is currently 97.23%.

Insider Activity

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 stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

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.