OneAscent Financial Services LLC Purchases Shares of 3,732 International Business Machines Co. (NYSE:IBM)

OneAscent Financial Services LLC bought a new position in International Business Machines Co. (NYSE:IBM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,732 shares of the technology company's stock, valued at approximately $825,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its holdings in shares of International Business Machines by 1,054.5% in 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 acquired a new position in shares of International Business Machines in the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines in the 2nd quarter valued at $36,000. Wolff Wiese Magana LLC boosted its holdings in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company's stock valued at $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of International Business Machines in the 3rd quarter valued at $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Up 1.1 %

Shares of IBM traded up $2.22 during midday trading on Tuesday, hitting $210.31. The company had a trading volume of 2,859,740 shares, compared to its average volume of 4,227,334. The company's 50 day moving average price is $218.98 and its 200 day moving average price is $194.50. The stock has a market cap of $194.46 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 52 week low of $152.35 and a 52 week high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its 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. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company's revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, November 12th. International Business Machines's payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company's stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating on the stock in a report on Thursday, October 24th. BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a report on Thursday, October 24th. UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a report on Wednesday, September 4th. Royal Bank of Canada restated an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Finally, Bank of America lifted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, International Business Machines presently has an average rating of "Hold" and a consensus price target 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.