Peddock Capital Advisors LLC Grows Position in International Business Machines Co. (NYSE:IBM)

Peddock Capital Advisors LLC boosted its stake in International Business Machines Co. (NYSE:IBM) by 0.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,326 shares of the technology company’s stock after acquiring an additional 86 shares during the period. Peddock Capital Advisors LLC’s holdings in International Business Machines were worth $2,270,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Qsemble Capital Management LP purchased a new stake in shares of International Business Machines during the second quarter worth $279,000. Federated Hermes Inc. raised its holdings in International Business Machines by 39.9% in the second quarter. Federated Hermes Inc. now owns 183,544 shares of the technology company’s stock valued at $31,744,000 after acquiring an additional 52,385 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of International Business Machines by 6.3% in the 2nd quarter. Parallel Advisors LLC now owns 28,620 shares of the technology company’s stock valued at $4,950,000 after purchasing an additional 1,694 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in shares of International Business Machines by 98.2% during the second quarter. Thoroughbred Financial Services LLC now owns 8,880 shares of the technology company’s stock worth $1,535,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in International Business Machines by 5.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,309,420 shares of the technology company’s stock valued at $226,464,000 after buying an additional 68,198 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated 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 in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Morgan Stanley upped their target price on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Two equities 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. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $214.88.

International Business Machines Price Performance

Shares of NYSE IBM traded down $2.36 during trading on Monday, hitting $217.39. 3,709,705 shares of the company were exchanged, compared to its average volume of 3,206,479. The firm’s fifty day moving average price is $221.92 and its 200 day moving average price is $209.52. 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 has a market cap of $201.01 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $2.20 EPS. On average, sell-side analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. 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.