Fifth Third Wealth Advisors LLC Boosts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Fifth Third Wealth Advisors LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 25.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,369 shares of the technology company's stock after buying an additional 2,915 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in International Business Machines were worth $3,177,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. boosted its position in shares of International Business Machines by 119.6% during the 1st quarter. Edgestream Partners L.P. now owns 9,127 shares of the technology company's stock worth $1,743,000 after acquiring an additional 4,971 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in shares of International Business Machines by 1.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 8,400 shares of the technology company's stock worth $1,604,000 after purchasing an additional 116 shares in the last quarter. Bessemer Group Inc. grew its stake in International Business Machines by 31.8% in the first quarter. Bessemer Group Inc. now owns 71,057 shares of the technology company's stock valued at $13,569,000 after acquiring an additional 17,144 shares during the period. Lake Street Advisors Group LLC lifted its position in International Business Machines by 25.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 4,455 shares of the technology company's stock valued at $851,000 after acquiring an additional 915 shares in the last quarter. Finally, Pitcairn Co. boosted its holdings in International Business Machines by 9.4% during the 1st quarter. Pitcairn Co. now owns 5,180 shares of the technology company's stock worth $989,000 after acquiring an additional 444 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on IBM shares. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 11th. DZ Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Morgan Stanley decreased their price objective on International Business Machines from $217.00 to $208.00 and set an "equal weight" rating on the stock in a report on Thursday, October 24th. Finally, Hsbc Global Res raised shares of International Business Machines to a "moderate sell" rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $208.12.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was 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 directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Stock Performance

NYSE:IBM traded up $2.03 during trading hours on Tuesday, hitting $210.12. 1,393,004 shares of the company traded hands, compared to its average volume of 4,220,433. The stock has a market capitalization of $194.29 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 4.60 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 twelve month low of $152.35 and a twelve month high of $237.37. The firm has a 50-day moving average of $218.88 and a 200 day moving average of $194.18.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 firm earned $2.20 EPS. The company's revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.18%. International Business Machines's dividend payout ratio is currently 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.