Oppenheimer Asset Management Inc. Raises Stock Holdings in International Business Machines Co. (NYSE:IBM)

Oppenheimer Asset Management Inc. lifted its holdings in International Business Machines Co. (NYSE:IBM) by 0.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 156,816 shares of the technology company’s stock after purchasing an additional 140 shares during the period. Oppenheimer Asset Management Inc.’s holdings in International Business Machines were worth $34,669,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Saturna Capital Corp increased its holdings in shares of International Business Machines by 3.9% in the 3rd quarter. Saturna Capital Corp now owns 2,123 shares of the technology company’s stock valued at $469,000 after acquiring an additional 80 shares during the period. Pinnacle Financial Partners Inc increased its holdings in shares of International Business Machines by 4.6% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 101,518 shares of the technology company’s stock valued at $22,444,000 after acquiring an additional 4,437 shares during the period. Hartline Investment Corp boosted its position in shares of International Business Machines by 1.5% in the 3rd quarter. Hartline Investment Corp now owns 56,670 shares of the technology company’s stock worth $12,529,000 after purchasing an additional 814 shares in the last quarter. Encompass Wealth Advisors LLC grew its stake in International Business Machines by 5.1% during the 3rd quarter. Encompass Wealth Advisors LLC now owns 3,308 shares of the technology company’s stock worth $731,000 after buying an additional 162 shares during the last quarter. Finally, Souders Financial Advisors grew its stake in International Business Machines by 27.0% during the 3rd quarter. Souders Financial Advisors now owns 5,578 shares of the technology company’s stock worth $1,233,000 after buying an additional 1,186 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IBM. The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Finally, DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $208.12.

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 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 owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

NYSE IBM traded down $0.86 during trading hours on Wednesday, reaching $210.00. The company’s stock had a trading volume of 149,128 shares, compared to its average volume of 4,214,546. The firm has a market capitalization of $194.18 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a 1-year low of $149.05 and a 1-year high of $237.37. 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 company’s 50-day moving average is $218.44 and its two-hundred day moving average is $192.98.

International Business Machines (NYSE:IBM) last released 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 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%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 EPS. On average, equities analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.18%. International Business Machines’s payout ratio is currently 97.23%.

International Business Machines Company 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.