First Horizon Advisors Inc. Increases Holdings in International Business Machines Co. (NYSE:IBM)

First Horizon Advisors Inc. increased its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 1.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 195,789 shares of the technology company's stock after acquiring an additional 3,026 shares during the period. International Business Machines comprises about 1.2% of First Horizon Advisors Inc.'s portfolio, making the stock its 13th biggest position. First Horizon Advisors Inc.'s holdings in International Business Machines were worth $43,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Howe & Rusling Inc. grew its position in shares of International Business Machines by 2.8% in the 3rd quarter. Howe & Rusling Inc. now owns 3,233 shares of the technology company's stock valued at $715,000 after buying an additional 88 shares during the last quarter. Jennison Associates LLC grew its position in shares of International Business Machines by 11.5% in the 3rd quarter. Jennison Associates LLC now owns 522,131 shares of the technology company's stock valued at $115,433,000 after buying an additional 53,658 shares during the last quarter. MWA Asset Management grew its position in shares of International Business Machines by 2.3% in the 3rd quarter. MWA Asset Management now owns 2,745 shares of the technology company's stock valued at $607,000 after buying an additional 63 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $553,000. Finally, Thompson Davis & CO. Inc. bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $229,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 2.1 %

Shares of IBM stock traded up $4.36 during trading hours on Wednesday, reaching $214.61. The company had a trading volume of 4,562,210 shares, compared to its average volume of 4,228,829. International Business Machines Co. has a 12 month low of $153.51 and a 12 month high of $237.37. 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 business has a fifty day simple moving average of $218.98 and a 200-day simple moving average of $194.50. The company has a market cap of $198.44 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $15.08 billion. During the same quarter last year, the company earned $2.20 earnings per share. The company's revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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 issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. International Business Machines's dividend payout ratio is presently 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 directly owns 25,390 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. Morgan Stanley dropped 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 note on Thursday, October 24th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a research note on Thursday, October 3rd. DZ Bank downgraded 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. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets boosted their price objective on 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. Three investment 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 MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.