Pittenger & Anderson Inc. Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Pittenger & Anderson Inc. grew its holdings in International Business Machines Co. (NYSE:IBM) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,435 shares of the technology company’s stock after acquiring an additional 175 shares during the period. Pittenger & Anderson Inc.’s holdings in International Business Machines were worth $3,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Ellenbecker Investment Group raised its holdings in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC raised its stake in International Business Machines by 4.0% in the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the last quarter. Sollinda Capital Management LLC lifted its position in International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after acquiring an additional 49 shares during the period. Lansing Street Advisors grew its stake in International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after purchasing an additional 49 shares during the last quarter. Finally, Northern Financial Advisors Inc increased its holdings in shares of International Business Machines by 0.6% in the third quarter. Northern Financial Advisors Inc now owns 7,815 shares of the technology company’s stock valued at $1,728,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IBM. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. 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 report on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Morgan Stanley lowered their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Down 0.9 %

Shares of NYSE IBM opened at $206.32 on Tuesday. The firm has a market cap of $190.77 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 4.68 and a beta of 0.71. International Business Machines Co. has a 52-week low of $145.28 and a 52-week high of $237.37. The company’s 50-day simple moving average is $217.01 and its 200-day simple moving average is $191.53. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations 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 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 analysts predict that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 3.24%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 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.