Kingsview Wealth Management LLC Raises Holdings in International Business Machines Co. (NYSE:IBM)

Kingsview Wealth Management LLC lifted its position in International Business Machines Co. (NYSE:IBM - Free Report) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,991 shares of the technology company's stock after acquiring an additional 2,298 shares during the period. Kingsview Wealth Management LLC's holdings in International Business Machines were worth $5,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. increased its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock valued at $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter worth about $29,000. Capital Performance Advisors LLP purchased a new stake in International Business Machines during the 3rd quarter valued at about $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC raised its holdings in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company's stock worth $38,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IBM shares. StockNews.com lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Morgan Stanley reduced their price objective on International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a report on Thursday, October 24th. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $208.12.

International Business Machines Stock Performance

NYSE:IBM traded up $0.57 during mid-day trading on Friday, hitting $222.97. 5,320,740 shares of the company traded hands, compared to its average volume of 4,315,075. The stock's fifty day moving average price is $219.45 and its 200-day moving average price is $195.39. 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 one year low of $153.92 and a one year high of $237.37. The firm has a market cap of $206.17 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the firm posted $2.20 EPS. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company's stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is currently owned by insiders.

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.