Logan Capital Management Inc. Increases Stake in International Business Machines Co. (NYSE:IBM)

Logan Capital Management Inc. increased its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,682 shares of the technology company's stock after purchasing an additional 5,974 shares during the quarter. International Business Machines accounts for approximately 1.1% of Logan Capital Management Inc.'s investment portfolio, making the stock its 19th largest position. Logan Capital Management Inc.'s holdings in International Business Machines were worth $26,901,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IBM. Ellenbecker Investment Group lifted its holdings in shares of International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock valued at $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC grew its holdings in shares of International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock valued at $269,000 after buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC increased its position in shares of International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company's stock valued at $298,000 after acquiring an additional 47 shares in the last quarter. Sollinda Capital Management LLC raised its holdings in International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company's stock worth $301,000 after acquiring an additional 49 shares during the last quarter. Finally, Lansing Street Advisors lifted its position in International Business Machines by 3.4% in the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company's stock valued at $332,000 after acquiring an additional 49 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company's stock.

International Business Machines Price Performance

Shares of NYSE IBM traded down $1.51 during midday trading on Friday, reaching $230.75. The stock had a trading volume of 2,757,381 shares, compared to its average volume of 4,227,999. The company has a market capitalization of $213.36 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. International Business Machines Co. has a 12-month low of $157.88 and a 12-month high of $239.35. The stock has a 50-day moving average of $222.57 and a 200-day moving average of $201.12. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

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 (EPS) for the quarter, topping 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 return on equity of 40.52% and a net margin of 10.22%. International Business Machines's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 EPS. As a group, research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.89%. International Business Machines's payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IBM shares. DZ Bank cut 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. Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a research note on Monday, October 21st. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, September 11th. Finally, The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, International Business Machines has an average rating of "Hold" and an average price target of $208.12.

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.