22,150 Shares in International Business Machines Co. (NYSE:IBM) Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,150 shares of the technology company’s stock, valued at approximately $4,897,000.

Other large investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. boosted its holdings in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter worth approximately $29,000. FPC Investment Advisory Inc. bought a new stake in International Business Machines during the 1st quarter worth about $26,000. ESL Trust Services LLC bought a new position in International Business Machines in the first quarter valued at about $28,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of International Business Machines during the third quarter worth approximately $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBM. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. The Goldman Sachs Group raised their price objective 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. Morgan Stanley reduced their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, 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 research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $213.66 on Friday. The firm has a market capitalization of $197.56 billion, a PE ratio of 31.10, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $145.28 and a 12 month high of $237.37. The business’s 50-day moving average price is $218.02 and its 200-day moving average price is $192.24.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating 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 firm’s revenue was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed 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. This represents a $6.68 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s 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 shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

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.