Providence Capital Advisors LLC Boosts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Providence Capital Advisors LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,288 shares of the technology company’s stock after purchasing an additional 84 shares during the period. Providence Capital Advisors LLC’s holdings in International Business Machines were worth $3,822,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of IBM. Hazlett Burt & Watson Inc. boosted its position in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC bought a new position in shares of International Business Machines in the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the second quarter valued at approximately $36,000. Wolff Wiese Magana LLC boosted 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 acquiring an additional 60 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines in the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated 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 owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. UBS Group lifted 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. Evercore ISI boosted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three 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. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $226.99 on Thursday. The stock has a market cap of $209.89 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 5.08 and a beta of 0.71. The firm’s 50-day moving average is $220.17 and its 200 day moving average is $196.64. International Business Machines Co. has a 1 year low of $154.86 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.

International Business Machines (NYSE:IBM) last announced its quarterly 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 company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. Sell-side analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business 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 dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend 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.