International Business Machines Co. (NYSE:IBM) Stake Raised by SouthState Corp

SouthState Corp boosted its holdings in International Business Machines Co. (NYSE:IBM) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,789 shares of the technology company’s stock after acquiring an additional 300 shares during the quarter. SouthState Corp’s holdings in International Business Machines were worth $5,923,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in IBM. Edgestream Partners L.P. lifted its stake in shares of International Business Machines by 119.6% in the 1st quarter. Edgestream Partners L.P. now owns 9,127 shares of the technology company’s stock worth $1,743,000 after acquiring an additional 4,971 shares during the period. Bahl & Gaynor Inc. lifted its holdings in shares of International Business Machines by 1.4% in the first quarter. Bahl & Gaynor Inc. now owns 8,400 shares of the technology company’s stock valued at $1,604,000 after buying an additional 116 shares during the period. Bessemer Group Inc. boosted its stake in International Business Machines by 31.8% during the first quarter. Bessemer Group Inc. now owns 71,057 shares of the technology company’s stock valued at $13,569,000 after buying an additional 17,144 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in International Business Machines by 25.8% during the first quarter. Lake Street Advisors Group LLC now owns 4,455 shares of the technology company’s stock worth $851,000 after acquiring an additional 915 shares during the period. Finally, Pitcairn Co. raised its position in International Business Machines by 9.4% in the first quarter. Pitcairn Co. now owns 5,180 shares of the technology company’s stock worth $989,000 after acquiring an additional 444 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 1.5 %

IBM stock opened at $208.09 on Tuesday. 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 company has a 50-day moving average of $218.88 and a two-hundred day moving average of $194.18. The stock has a market capitalization of $192.41 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 52-week low of $152.35 and a 52-week 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, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 EPS. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

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 paid 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 3.21%. International Business Machines’s dividend payout ratio is 97.23%.

Insider Buying and Selling at International Business Machines

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 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 directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IBM shares. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three research 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.