Eagle Asset Management Inc. Has $134.26 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Eagle Asset Management Inc. grew its position in International Business Machines Co. (NYSE:IBM - Free Report) by 587.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 628,213 shares of the technology company's stock after acquiring an additional 536,785 shares during the period. Eagle Asset Management Inc. owned about 0.07% of International Business Machines worth $134,262,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Ellenbecker Investment Group lifted its position in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock valued at $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC boosted its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock worth $269,000 after purchasing an additional 47 shares during the period. Vertex Planning Partners LLC increased its holdings in shares of International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company's stock valued at $298,000 after purchasing an additional 47 shares during the last quarter. Sollinda Capital Management LLC raised its position in shares of International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company's stock valued at $301,000 after purchasing an additional 49 shares during the period. Finally, Lansing Street Advisors lifted its stake in shares of International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company's stock worth $332,000 after buying an additional 49 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

International Business Machines stock traded up $0.09 during midday trading on Friday, reaching $222.49. The company's stock had a trading volume of 2,770,654 shares, compared to its average volume of 4,226,849. The stock has a market cap of $205.72 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 4.72 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 52 week low of $153.92 and a 52 week high of $237.37. The business has a 50-day moving average price of $219.29 and a 200-day moving average price of $194.83.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $14.97 billion during the quarter, compared to analysts' expectations of $15.08 billion. During the same period in the prior year, the company earned $2.20 EPS. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. International Business Machines's dividend payout ratio is currently 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business's 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 sale, the senior vice president now directly owns 25,390 shares of the company's stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBM. Stifel Nicolaus increased their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a research note on Thursday, October 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 24th. Finally, StockNews.com downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $208.12.

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.