Graypoint LLC Acquires 2,665 Shares of International Business Machines Co. (NYSE:IBM)

Graypoint LLC boosted its position in International Business Machines Co. (NYSE:IBM - Free Report) by 27.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,459 shares of the technology company's stock after buying an additional 2,665 shares during the quarter. Graypoint LLC's holdings in International Business Machines were worth $2,739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBM. International Assets Investment Management LLC raised its stake in shares of 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 worth $600,373,000 after acquiring an additional 2,702,340 shares during the last quarter. Holocene Advisors LP acquired a new position in International Business Machines in the third quarter valued at about $573,306,000. State Street Corp boosted its stake in 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 acquiring an additional 1,200,803 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings 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 buying an additional 1,056,759 shares during the period. Finally, Eagle Asset Management Inc. increased its holdings in shares of International Business Machines by 587.1% in the third 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 in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on IBM shares. 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 research report on Monday, October 21st. DZ Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Two 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 stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and a consensus price target of $214.88.

International Business Machines Price Performance

NYSE IBM traded down $3.78 on Friday, reaching $219.40. 3,570,079 shares of the company's stock traded hands, compared to its average volume of 3,131,566. The stock has a 50-day simple moving average of $221.92 and a 200 day simple moving average of $209.00. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 12 month low of $160.29 and a 12 month high of $239.35. The stock has a market cap of $202.87 billion, a PE ratio of 31.94, a P/E/G ratio of 5.18 and a beta of 0.74.

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, topping analysts' consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. As a group, research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Tuesday, November 12th. International Business Machines's dividend payout ratio is presently 97.23%.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm's stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by company insiders.

International Business Machines 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.