Cassaday & Co Wealth Management LLC Acquires 232 Shares of International Business Machines Co. (NYSE:IBM)

Cassaday & Co Wealth Management LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,084 shares of the technology company’s stock after acquiring an additional 232 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in International Business Machines were worth $2,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBM. Ellenbecker Investment Group lifted its position in International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares during the period. Goldstein Advisors LLC lifted its position in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares during the period. Sollinda Capital Management LLC lifted its position in International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after acquiring an additional 49 shares during the period. Lansing Street Advisors lifted its position in International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after acquiring an additional 49 shares during the period. Finally, Ascent Wealth Partners LLC lifted its position in International Business Machines by 0.7% during the 3rd quarter. Ascent Wealth Partners LLC now owns 7,144 shares of the technology company’s stock valued at $1,579,000 after acquiring an additional 49 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $204.99 on Monday. The company has a 50 day moving average price of $218.79 and a 200-day moving average price of $193.88. International Business Machines Co. has a 52 week low of $152.13 and a 52 week high of $237.37. The firm has a market capitalization of $189.54 billion, a PE ratio of 29.84, a P/E/G ratio of 4.60 and a beta of 0.71. 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 announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $2.20 earnings per share. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given 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 3.26%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following 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 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IBM shares. BMO Capital Markets lifted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Bank of America lifted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $208.12.

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.