Carnegie Investment Counsel Buys 1,680 Shares of International Business Machines Co. (NYSE:IBM)

Carnegie Investment Counsel lifted its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 4.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,126 shares of the technology company's stock after buying an additional 1,680 shares during the period. Carnegie Investment Counsel's holdings in International Business Machines were worth $8,381,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of IBM. State Street Corp lifted its holdings in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares during the last quarter. Legal & General Group Plc boosted its position in International Business Machines by 4.1% in the second 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. grew its stake in shares of International Business Machines by 6.4% during the second 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 increased its holdings in shares of International Business Machines by 6.0% during 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, Swiss National Bank lifted its stake in shares of International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company's stock valued at $602,819,000 after acquiring an additional 12,400 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction 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 completion of the sale, the senior vice president now owns 25,390 shares of the company's stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on IBM. BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a report on Thursday, October 24th. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a research note on Tuesday. Bank of America lifted their target price 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. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Finally, DZ Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and an average target price of $215.81.

International Business Machines Trading Up 0.9 %

IBM stock traded up $2.07 during mid-day trading on Friday, reaching $224.73. The company's stock had a trading volume of 5,481,686 shares, compared to its average volume of 3,432,262. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The business's 50 day moving average price is $222.65 and its 200 day moving average price is $210.31. The company has a market cap of $207.80 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Announces Dividend

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 of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.97%. International Business Machines's dividend payout ratio is presently 97.23%.

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.