International Business Machines Co. (NYSE:IBM) Shares Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC boosted its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 58.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,656 shares of the technology company's stock after buying an additional 37,654 shares during the period. Kovitz Investment Group Partners LLC's holdings in International Business Machines were worth $22,474,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company's stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines in the second quarter valued at about $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines during the third quarter worth about $5,117,000. Aljian Capital Management LLC purchased a new position in shares of International Business Machines during the third quarter worth about $611,000. Finally, Focused Wealth Management Inc increased its position in International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company's stock valued at $2,504,000 after acquiring an additional 3,887 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Evercore ISI lifted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, September 11th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a report on Monday, September 30th. Finally, Morgan Stanley cut their price target on shares of 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. Three research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $208.12.

International Business Machines Trading Up 1.4 %

IBM traded up $3.29 on Friday, reaching $238.04. 4,028,430 shares of the company's stock were exchanged, compared to its average volume of 3,745,022. International Business Machines Co. has a twelve month low of $157.88 and a twelve month high of $238.38. The company's 50 day moving average is $221.74 and its 200-day moving average is $199.67. 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 company has a market cap of $220.10 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 5.24 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the firm posted $2.20 EPS. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Tuesday, November 12th. International Business Machines's payout ratio is 97.23%.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company'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 $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.07% of the company's stock.

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.