Agate Pass Investment Management LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Agate Pass Investment Management LLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel reports. The firm acquired 4,283 shares of the technology company’s stock, valued at approximately $942,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. International Assets Investment Management LLC raised its position in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the period. Holocene Advisors LP acquired a new position in International Business Machines during the third quarter worth $573,306,000. State Street Corp lifted its stake in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after acquiring an additional 536,785 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IBM. DZ Bank lowered 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. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus upped their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $214.88.

Insider Buying and Selling at International Business Machines

In other International Business Machines 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 transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

NYSE IBM traded down $3.41 during trading on Monday, reaching $216.34. The company’s stock had a trading volume of 1,185,345 shares, compared to its average volume of 2,847,912. The stock has a market capitalization of $200.04 billion, a PE ratio of 31.49, a P/E/G ratio of 5.18 and a beta of 0.74. 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 firm has a fifty day moving average of $221.92 and a 200 day moving average of $209.52. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the firm posted $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.09%. International Business Machines’s dividend payout ratio is presently 97.23%.

International Business Machines 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.