International Business Machines Co. (NYSE:IBM) Shares Purchased by Payden & Rygel

Payden & Rygel raised its position in International Business Machines Co. (NYSE:IBM - Free Report) by 50.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,800 shares of the technology company's stock after purchasing an additional 26,600 shares during the quarter. Payden & Rygel's holdings in International Business Machines were worth $17,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased its position in shares of 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 acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new position in International Business Machines during the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines during the second quarter valued at approximately $36,000. Wolff Wiese Magana LLC increased its holdings in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company's stock valued at $38,000 after buying an additional 60 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in International Business Machines during the third quarter valued at approximately $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now 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 SEC, which is accessible through this link. Insiders own 0.07% of the company's stock.

International Business Machines Stock Up 2.1 %

IBM traded up $4.36 during trading hours on Wednesday, hitting $214.61. 4,562,210 shares of the company's stock were exchanged, compared to its average volume of 4,228,829. International Business Machines Co. has a 12-month low of $153.51 and a 12-month high of $237.37. The firm has a 50 day moving average of $219.07 and a 200 day moving average of $194.64. The firm has a market cap of $198.44 billion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

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 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 firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the firm earned $2.20 EPS. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. Analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Tuesday, November 12th. International Business Machines's dividend payout ratio is presently 97.23%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IBM shares. Bank of America lifted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. DZ Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. The Goldman Sachs Group raised 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. Bernstein Bank raised their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group raised 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. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and an average target price of $208.12.

International Business Machines Company 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.