Rep. Lloyd Doggett Buys International Business Machines Co. (NYSE:IBM) Stock

Representative Lloyd Doggett (D-Texas) recently bought shares of International Business Machines Co. NYSE: IBM. In a filing disclosed on January 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in International Business Machines stock on December 10th.

Representative Lloyd Doggett also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Coca-Cola NYSE: KO on 12/16/2024.
• Purchased $1,001 - $15,000 in shares of PPG Industries NYSE: PPG on 12/12/2024.
• Purchased $1,001 - $15,000 in shares of Home Depot NYSE: HD on 12/12/2024.
• Purchased $1,001 - $15,000 in shares of Johnson & Johnson NYSE: JNJ on 12/10/2024.
• Purchased $1,001 - $15,000 in shares of Procter & Gamble NYSE: PG on 11/15/2024.

International Business Machines Price Performance

Shares of NYSE IBM traded down $3.78 during midday trading on Friday, reaching $219.40. 3,570,079 shares of the company were exchanged, compared to its average volume of 3,131,566. International Business Machines Co. has a one year low of $160.29 and a one year high of $239.35. The stock has a market cap of $202.87 billion, a P/E ratio of 31.94, a PEG ratio of 5.18 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock's 50-day moving average price is $221.92 and its 200-day moving average price is $209.00.

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 the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts' expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company's revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. International Business Machines's dividend payout ratio (DPR) is currently 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business's stock in a transaction dated Friday, November 8th. The shares were 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 approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. DZ Bank cut 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. Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Sanford C. Bernstein boosted their target price on International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Finally, Morgan Stanley boosted their price objective on International Business Machines from $208.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and an average price target of $214.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines during the third quarter valued at approximately $29,000. Avondale Wealth Management raised its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock valued at $34,000 after buying an additional 56 shares in the last quarter. Modus Advisors LLC purchased a new stake in International Business Machines during the fourth quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines during the 3rd quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors.

About Representative Doggett

Lloyd Doggett (Democratic Party) is a member of the U.S. House, representing Texas' 37th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Doggett (Democratic Party) is running for re-election to the U.S. House to represent Texas' 37th Congressional District. He declared candidacy for the Democratic primary scheduled on March 5, 2024. In the 116th Congress, Doggett served on the House Ways & Means Committee, and he co-founded the House Prescription Drug Taskforce. Doggett began his political career in the Texas State Senate, where he served from 1973 to 1985. He then served as a member of the Texas Supreme Court from 1989 until 1994. He represented Texas' 25th Congressional District from 2005 to 2013 and Texas' 10th Congressional District from 1995 to 2005. As of a 2014 analysis of multiple outside rankings, Doggett is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. Lloyd Doggett was born in Austin, Texas. Doggett graduated from Austin High School in 1964. He earned a B.A. from the University of Texas at Austin in 1967 and a J.D. from the University of Texas in 1970. Doggett's career experience includes working as an adjunct professor with the University of Texas School of Law.

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.