Lord Abbett & CO. LLC Acquires New Shares in International Business Machines Co. (NYSE:IBM)

Lord Abbett & CO. LLC purchased a new stake in International Business Machines Co. (NYSE:IBM - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 112,000 shares of the technology company's stock, valued at approximately $24,761,000.

Other institutional investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock worth $29,000 after buying an additional 116 shares during the period. Hara Capital LLC purchased a new position in shares of International Business Machines during the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the second quarter worth approximately $36,000. Capital Performance Advisors LLP purchased a new stake in International Business Machines in the third quarter valued at approximately $43,000. Finally, Briaud Financial Planning Inc increased its position in International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company's stock worth $49,000 after purchasing an additional 100 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BMO Capital Markets lifted 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. DZ Bank downgraded International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. StockNews.com downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group raised their price target 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 issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $208.94.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company's stock.

International Business Machines Stock Down 0.6 %

Shares of NYSE:IBM traded down $1.48 during trading on Monday, hitting $229.34. The company's stock had a trading volume of 3,609,208 shares, compared to its average volume of 4,225,441. The company has a market capitalization of $212.05 billion, a PE ratio of 33.71, a PEG ratio of 5.17 and a beta of 0.73. International Business Machines Co. has a fifty-two week low of $157.88 and a fifty-two week high of $239.35. 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 stock's 50-day moving average price is $222.67 and its two-hundred day moving average price is $202.01.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for 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 quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. As a group, sell-side analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines's payout ratio is currently 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.