CIBC Asset Management Inc Buys 12,865 Shares of International Business Machines Co. (NYSE:IBM)

CIBC Asset Management Inc grew its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 8.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 168,271 shares of the technology company's stock after purchasing an additional 12,865 shares during the period. CIBC Asset Management Inc's holdings in International Business Machines were worth $37,201,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. ESL Trust Services LLC bought a new position in shares of International Business Machines during the 1st quarter worth approximately $28,000. Hazlett Burt & Watson Inc. boosted its position in 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 worth $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter valued at $36,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of International Business Machines by 37.0% during 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 period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on IBM shares. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Morgan Stanley decreased their price target on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. UBS Group upped their price objective on International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a research note on Wednesday, September 4th. BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a research report on Thursday, October 24th. Finally, Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $208.12.

Insider Buying and Selling

In other International Business Machines 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 directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by company insiders.

International Business Machines Price Performance

NYSE:IBM traded down $4.00 during trading hours on Friday, hitting $204.99. 3,986,460 shares of the company's stock traded hands, compared to its average volume of 4,237,182. The firm has a market cap of $189.54 billion, a P/E ratio of 29.84, a P/E/G ratio of 4.74 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business's fifty day simple moving average is $218.79 and its two-hundred day simple moving average is $193.48. International Business Machines Co. has a 52 week low of $152.13 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS 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 during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. International Business Machines's revenue was up 1.5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines's dividend payout ratio is currently 97.23%.

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.