J. W. Coons Advisors LLC Raises Stake in International Business Machines Co. (NYSE:IBM)

J. W. Coons Advisors LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 1.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 19,611 shares of the technology company’s stock after buying an additional 290 shares during the period. International Business Machines accounts for approximately 1.1% of J. W. Coons Advisors LLC’s portfolio, making the stock its 21st largest position. J. W. Coons Advisors LLC’s holdings in International Business Machines were worth $4,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines in the 2nd quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC purchased a new position in International Business Machines in the 3rd quarter valued at $5,117,000. Focused Wealth Management Inc increased its stake in International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after buying an additional 3,887 shares during the period. QRG Capital Management Inc. lifted its stake in shares of International Business Machines by 4.5% in the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after acquiring an additional 6,004 shares during the period. Finally, F M Investments LLC boosted its holdings in shares of International Business Machines by 39.6% in the third quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock valued at $13,696,000 after acquiring an additional 17,554 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.

International Business Machines Price Performance

NYSE:IBM opened at $204.99 on Monday. The firm has a market cap of $189.54 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 12-month low of $152.13 and a 12-month high of $237.37. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company’s 50-day moving average is $218.79 and its two-hundred day moving average is $193.88.

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, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates 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 for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.20 EPS. Research analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Analysts Set New Price Targets

Several research firms recently issued reports on IBM. Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Stifel Nicolaus upped their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets raised their target price 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, Evercore ISI upped 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. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $208.12.

About International Business Machines

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.