Fortem Financial Group LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Fortem Financial Group LLC bought a new position in International Business Machines Co. (NYSE:IBM - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,790 shares of the technology company's stock, valued at approximately $838,000.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company's stock valued at $600,373,000 after acquiring an additional 2,702,340 shares during the last quarter. Holocene Advisors LP bought a new stake in International Business Machines in the third quarter valued at about $573,306,000. State Street Corp grew its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock worth $12,307,940,000 after buying an additional 1,200,803 shares during the period. Thrivent Financial for Lutherans raised its position in shares of International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company's stock valued at $242,441,000 after acquiring an additional 1,056,759 shares during the period. Finally, Eagle Asset Management Inc. boosted its stake in International Business Machines by 587.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company's stock worth $134,262,000 after acquiring an additional 536,785 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's stock in a transaction 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 owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company's stock.

Analyst Ratings Changes

IBM has been the topic of several recent analyst reports. BMO Capital Markets lifted 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. The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 30th. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the stock a "sell" rating in a research note on Wednesday, September 4th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Finally, Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $208.12.

International Business Machines Trading Down 0.7 %

Shares of IBM stock traded down $1.60 during mid-day trading on Wednesday, reaching $230.12. 3,852,467 shares of the stock traded hands, compared to its average volume of 4,232,865. The stock's fifty day simple moving average is $222.17 and its two-hundred day simple moving average is $200.70. 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 Co. has a 1-year low of $157.88 and a 1-year high of $239.35. The company has a market cap of $212.78 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 5.16 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 EPS. On average, research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.90%. International Business Machines's payout ratio is 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.