Virtu Financial LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Virtu Financial LLC purchased a new stake in International Business Machines Co. (NYSE:IBM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,465 shares of the technology company's stock, valued at approximately $766,000.

A number of other large investors have also recently modified their holdings of IBM. State Street Corp raised its position in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company's stock valued at $1,467,974,000 after buying an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. lifted its position in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock worth $1,274,074,000 after buying an additional 444,698 shares during the last quarter. FMR LLC boosted its stake in International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company's stock worth $1,148,717,000 after buying an additional 294,276 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in International Business Machines by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company's stock valued at $829,431,000 after acquiring an additional 304,390 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IBM. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their price target 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. 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. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Three 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 data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $208.12.

International Business Machines Stock Down 0.6 %

IBM stock traded down $1.44 during midday trading on Friday, hitting $230.82. The stock had a trading volume of 2,757,683 shares, compared to its average volume of 4,227,999. The business has a 50-day moving average of $222.67 and a two-hundred day moving average of $201.76. 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 firm has a market cap of $213.43 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. International Business Machines Co. has a 52-week low of $157.88 and a 52-week high of $239.35.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.89%. International Business Machines's dividend payout ratio is presently 97.23%.

Insider Activity

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 transaction of $774,720.00. Following the transaction, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company's stock.

About International Business Machines

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.