International Business Machines Co. (NYSE:IBM) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. raised its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 17.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,695 shares of the technology company's stock after purchasing an additional 8,552 shares during the quarter. Raymond James Trust N.A.'s holdings in International Business Machines were worth $12,976,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Altiora Financial Group LLC bought a new position in International Business Machines in the third quarter worth about $228,000. Darden Wealth Group Inc purchased a new position in shares of International Business Machines in the 3rd quarter valued at approximately $276,000. Eagle Asset Management Inc. grew its stake in International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company's stock worth $134,262,000 after purchasing an additional 536,785 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in International Business Machines by 23.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 95,529 shares of the technology company's stock worth $21,120,000 after purchasing an additional 18,340 shares in the last quarter. Finally, Integrated Investment Consultants LLC lifted its position in International Business Machines by 520.0% during the third quarter. Integrated Investment Consultants LLC now owns 20,672 shares of the technology company's stock valued at $4,570,000 after buying an additional 17,338 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Insider Transactions at International Business Machines

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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

IBM has been the subject of a number of analyst reports. UBS Group raised their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a research note on Wednesday, September 4th. Hsbc Global Res upgraded shares of International Business Machines to a "moderate sell" rating in a report on Friday, July 26th. Bernstein Bank raised 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 report on Thursday, October 3rd. DZ Bank cut International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Finally, Morgan Stanley cut their price objective on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a research report on Thursday, October 24th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $208.12.

International Business Machines Trading Up 0.3 %

IBM stock traded up $0.57 during trading on Friday, hitting $222.97. The company had a trading volume of 5,186,333 shares, compared to its average volume of 4,237,491. The firm has a market capitalization of $206.17 billion, a P/E ratio of 32.27, a PEG ratio of 4.72 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 52-week low of $153.92 and a 52-week high of $237.37. The company has a 50 day simple moving average of $219.29 and a 200-day simple moving average of $194.83.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly 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 firm had revenue of $14.97 billion during 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 quarter in the previous year, the business earned $2.20 earnings per share. As a group, research analysts forecast that International Business Machines Co. will post 10.12 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. Stockholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. International Business Machines's dividend payout ratio is currently 97.23%.

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.