Pinnacle Financial Partners Inc Acquires 4,437 Shares of International Business Machines Co. (NYSE:IBM)

Pinnacle Financial Partners Inc grew its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,518 shares of the technology company's stock after buying an additional 4,437 shares during the period. Pinnacle Financial Partners Inc's holdings in International Business Machines were worth $22,444,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IBM. Hartline Investment Corp lifted its position in International Business Machines by 1.5% during the third quarter. Hartline Investment Corp now owns 56,670 shares of the technology company's stock worth $12,529,000 after acquiring an additional 814 shares during the last quarter. Encompass Wealth Advisors LLC lifted its holdings in International Business Machines by 5.1% during the 3rd quarter. Encompass Wealth Advisors LLC now owns 3,308 shares of the technology company's stock worth $731,000 after purchasing an additional 162 shares during the last quarter. Souders Financial Advisors boosted its stake in International Business Machines by 27.0% in the 3rd quarter. Souders Financial Advisors now owns 5,578 shares of the technology company's stock valued at $1,233,000 after purchasing an additional 1,186 shares during the period. Community Bank & Trust Waco Texas grew its holdings in International Business Machines by 6.0% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 35,278 shares of the technology company's stock valued at $7,799,000 after buying an additional 2,003 shares in the last quarter. Finally, Dillon & Associates Inc. bought a new position in International Business Machines during the 3rd quarter worth $227,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.07% of the company's stock.

International Business Machines Trading Up 0.0 %

IBM traded up $0.05 during trading on Wednesday, reaching $210.91. 3,247,328 shares of the company's stock were exchanged, compared to its average volume of 4,228,623. 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 Co. has a one year low of $149.05 and a one year high of $237.37. The firm has a fifty day moving average price of $218.44 and a two-hundred day moving average price of $192.98. The stock has a market capitalization of $195.02 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate 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 business posted $2.20 earnings per share. As a group, equities research analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.17%. International Business Machines's payout ratio is currently 97.23%.

Analyst Ratings Changes

IBM has been the topic of several research reports. Bernstein Bank upped their price target 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. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 30th. StockNews.com upgraded International Business Machines from a "hold" rating to a "buy" rating in a research note on Tuesday. Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 24th. Finally, Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and a consensus 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.