Tower Bridge Advisors Has $2.98 Million Position in International Business Machines Co. (NYSE:IBM)

Tower Bridge Advisors grew its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 22.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,484 shares of the technology company's stock after buying an additional 2,475 shares during the period. Tower Bridge Advisors' holdings in International Business Machines were worth $2,981,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company's stock valued at $600,373,000 after buying an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company's stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in International Business Machines by 306.3% during 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 purchasing an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company's stock valued at $817,000 after purchasing an additional 468,567 shares during the period. Finally, KBC Group NV grew its position in International Business Machines by 103.1% in the 3rd quarter. KBC Group NV now owns 886,323 shares of the technology company's stock worth $195,948,000 after purchasing an additional 449,912 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

Insiders Place Their Bets

In related 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 sale, the senior vice president now owns 25,390 shares of the company's stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IBM shares. StockNews.com upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. BMO Capital Markets upped their target price 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. Bank of America lifted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $208.12.

International Business Machines Price Performance

IBM traded down $4.00 during midday trading on Friday, hitting $204.99. The company had a trading volume of 3,986,460 shares, compared to its average volume of 4,693,159. International Business Machines Co. has a twelve month low of $152.13 and a twelve month high of $237.37. The company has a market capitalization of $189.54 billion, a PE ratio of 29.84, a P/E/G ratio of 4.60 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm's 50-day simple moving average is $218.79 and its 200-day simple moving average is $193.67.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly 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. The business 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 earnings per share. Equities research analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.26%. International Business Machines's payout ratio is presently 97.23%.

About International Business Machines

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.