Meridian Wealth Management LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Meridian Wealth Management LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 57,936 shares of the technology company's stock, valued at approximately $12,802,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its stake in International Business Machines by 1,054.5% in the 3rd 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 last quarter. Hara Capital LLC purchased a new position in International Business Machines during the third quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter valued at $36,000. Wolff Wiese Magana LLC increased its holdings in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company's stock worth $38,000 after buying an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of International Business Machines in the 3rd quarter worth $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on IBM shares. DZ Bank lowered 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 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. Stifel Nicolaus boosted their price objective 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. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $208.12.

International Business Machines Stock Up 0.3 %

Shares of IBM stock traded up $0.61 during mid-day trading on Friday, reaching $223.02. 5,320,339 shares of the company were exchanged, compared to its average volume of 4,238,078. 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 business's 50 day simple moving average is $219.29 and its 200 day simple moving average is $194.83. The company has a market capitalization of $206.21 billion, a P/E ratio of 32.27, a P/E/G ratio of 4.72 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $153.92 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. The company's revenue was up 1.5% on a year-over-year basis. 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 company 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. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. International Business Machines's payout ratio is 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.