Teachers Insurance & Annuity Association of America bought a new stake in International Business Machines Co. (NYSE:IBM – Free Report) during the third quarter, Holdings Channel.com reports. The fund bought 838 shares of the technology company’s stock, valued at approximately $185,000.
Other institutional investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. raised its stake in International Business Machines by 1,054.5% during the 3rd 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 shares of International Business Machines during the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the second quarter valued at about $36,000. Wolff Wiese Magana LLC grew its position in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in International Business Machines during the third quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors.
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 transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.07% of the stock is owned by insiders.
International Business Machines Trading Down 0.8 %
International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 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 company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the company posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.
International Business Machines Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. International Business Machines’s dividend payout ratio is 97.23%.
Analysts Set New Price Targets
Several analysts have recently weighed in on IBM shares. UBS Group lifted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Stifel Nicolaus upped their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $208.12.
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.
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