Prospera Financial Services Inc Raises Stake in International Business Machines Co. (NYSE:IBM)

Prospera Financial Services Inc boosted its position in International Business Machines Co. (NYSE:IBM - Free Report) by 8.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 78,592 shares of the technology company's stock after purchasing an additional 6,009 shares during the period. Prospera Financial Services Inc's holdings in International Business Machines were worth $17,381,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Edgestream Partners L.P. boosted its holdings in International Business Machines by 119.6% in the 1st quarter. Edgestream Partners L.P. now owns 9,127 shares of the technology company's stock worth $1,743,000 after buying an additional 4,971 shares during the period. Bahl & Gaynor Inc. lifted its position in International Business Machines by 1.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 8,400 shares of the technology company's stock valued at $1,604,000 after acquiring an additional 116 shares during the period. Bessemer Group Inc. raised its holdings in International Business Machines by 31.8% in the first quarter. Bessemer Group Inc. now owns 71,057 shares of the technology company's stock worth $13,569,000 after buying an additional 17,144 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in International Business Machines by 25.8% in the first quarter. Lake Street Advisors Group LLC now owns 4,455 shares of the technology company's stock worth $851,000 after buying an additional 915 shares during the last quarter. Finally, Pitcairn Co. raised its holdings in shares of International Business Machines by 9.4% during the first quarter. Pitcairn Co. now owns 5,180 shares of the technology company's stock valued at $989,000 after purchasing an additional 444 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

International Business Machines stock traded up $1.45 during midday trading on Tuesday, reaching $209.54. The company's stock had a trading volume of 1,231,856 shares, compared to its average volume of 4,219,895. The firm has a market capitalization of $193.75 billion, a PE ratio of 30.21, a P/E/G ratio of 4.60 and a beta of 0.71. 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 Co. has a fifty-two week low of $152.35 and a fifty-two week high of $237.37. The stock's 50 day simple moving average is $218.88 and its 200 day simple moving average is $194.18.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business's revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. On average, equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines's dividend payout ratio is presently 97.23%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IBM shares. StockNews.com upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. DZ Bank lowered 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 report on Wednesday, October 2nd. Jefferies Financial Group upped their price target 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. Royal Bank of Canada reissued an "outperform" rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Finally, Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was 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 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by company insiders.

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.