International Business Machines Co. (NYSE:IBM) Shares Acquired by Wallace Advisory Group LLC

Wallace Advisory Group LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 17.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,692 shares of the technology company’s stock after buying an additional 538 shares during the period. Wallace Advisory Group LLC’s holdings in International Business Machines were worth $816,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines during the 2nd quarter worth about $7,160,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines during the 3rd quarter worth about $5,117,000. Nordea Investment Management AB lifted its stake in International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in International Business Machines during the 3rd quarter worth about $24,761,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Trading Down 1.1 %

IBM opened at $217.39 on Tuesday. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. The company has a market cap of $201.01 billion, a P/E ratio of 31.64, a PEG ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The business’s 50-day simple moving average is $222.14 and its 200-day simple moving average is $209.84.

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 analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. 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 expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group increased their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group increased their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, BMO Capital Markets upped their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $214.88.

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.