Meridian Wealth Management LLC Invests $12.80 Million in International Business Machines Co. (NYSE:IBM)

Meridian Wealth Management LLC bought a new stake in shares of International Business Machines Co. (NYSE:IBM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,936 shares of the technology company’s stock, valued at approximately $12,802,000.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors purchased a new stake in International Business Machines in the first quarter valued at about $61,865,000. Canada Pension Plan Investment Board lifted its position in International Business Machines by 4,917.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 281,501 shares of the technology company’s stock worth $53,755,000 after acquiring an additional 275,891 shares during the period. Brown Capital Management LLC purchased a new stake in International Business Machines during the 1st quarter valued at about $224,000. Beck Capital Management LLC increased its holdings in shares of International Business Machines by 5.1% in the first quarter. Beck Capital Management LLC now owns 1,435 shares of the technology company’s stock valued at $274,000 after purchasing an additional 69 shares during the period. Finally, Kestra Advisory Services LLC raised its stake in shares of International Business Machines by 23.9% in the first quarter. Kestra Advisory Services LLC now owns 174,289 shares of the technology company’s stock worth $33,282,000 after purchasing an additional 33,568 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction 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 transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of a number of recent research reports. Bank of America raised their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Up 3.6 %

Shares of IBM opened at $222.30 on Friday. The stock has a 50 day moving average price of $219.29 and a 200 day moving average price of $194.83. International Business Machines Co. has a one year low of $153.92 and a one year high of $237.37. 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 stock has a market capitalization of $205.55 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 4.72 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’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 firm earned $2.20 earnings per share. Equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) 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.