Freedom Investment Management Inc. Buys 6,029 Shares of International Business Machines Co. (NYSE:IBM)

Freedom Investment Management Inc. grew its position in International Business Machines Co. (NYSE:IBM) by 121.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,978 shares of the technology company’s stock after purchasing an additional 6,029 shares during the quarter. Freedom Investment Management Inc.’s holdings in International Business Machines were worth $2,427,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. grew 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 purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new position in International Business Machines during the third quarter worth $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the 2nd quarter valued at $36,000. Wolff Wiese Magana LLC grew its position in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines during the 3rd quarter worth about $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

Shares of IBM stock opened at $228.85 on Wednesday. International Business Machines Co. has a 52 week low of $154.75 and a 52 week high of $237.37. The stock has a market capitalization of $211.61 billion, a PE ratio of 33.31, a PEG ratio of 5.08 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. The stock’s fifty day moving average is $219.93 and its 200-day moving average is $196.43.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the firm earned $2.20 EPS. The company’s revenue was up 1.5% on a year-over-year basis. Equities research analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.92%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IBM shares. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Finally, Bank of America increased their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $208.12.

Insider Transactions 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 shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

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.