International Business Machines Co. (NYSE:IBM) Stock Holdings Increased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 86.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,332 shares of the technology company’s stock after buying an additional 1,081 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in International Business Machines were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. International Assets Investment Management LLC raised its holdings 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 acquiring an additional 2,702,340 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after buying an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares in the last quarter. Finally, KBC Group NV raised its position in International Business Machines by 103.1% during the third quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after acquiring an additional 449,912 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on IBM shares. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday. BMO Capital Markets increased their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price target 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. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, 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 report on Wednesday, September 4th. Three investment 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 presently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $4.00 during trading on Friday, hitting $204.99. 3,986,460 shares of the stock were exchanged, compared to its average volume of 4,237,182. The company has a market capitalization of $189.54 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 1-year low of $152.13 and a 1-year high of $237.37. The company’s fifty day simple moving average is $218.79 and its 200-day simple moving average is $193.48.

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, beating the consensus estimate 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 firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Company insiders own 0.07% of the company’s stock.

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.