Rovin Capital UT ADV Makes New Investment in International Business Machines Co. (NYSE:IBM)

Rovin Capital UT ADV bought a new stake in International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,072 shares of the technology company’s stock, valued at approximately $237,000.

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

International Business Machines Stock Up 0.0 %

International Business Machines stock opened at $213.72 on Friday. International Business Machines Co. has a fifty-two week low of $145.28 and a fifty-two week high of $237.37. The firm has a market capitalization of $197.62 billion, a PE ratio of 31.11, a P/E/G ratio of 4.80 and a beta of 0.71. The company’s 50-day moving average is $218.02 and its 200-day moving average is $192.24. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS 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 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%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 earnings per share. Sell-side analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed 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. This represents a $6.68 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Bernstein Bank increased their price objective on 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. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $208.12.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.