Portfolio Design Labs LLC Purchases New Holdings in International Business Machines Co. (NYSE:IBM)

Portfolio Design Labs LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,177 shares of the technology company’s stock, valued at approximately $260,000.

Other large investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the second quarter valued at approximately $36,000. Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’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 completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group raised their price objective 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. 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. Bank of America lifted their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Up 2.1 %

Shares of NYSE:IBM opened at $214.61 on Thursday. The company has a market capitalization of $198.44 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 4.60 and a beta of 0.71. 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 business’s 50-day moving average is $219.07 and its 200-day moving average is $194.64. International Business Machines Co. has a 1 year low of $153.51 and a 1 year high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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 company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 EPS. Equities research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.