International Business Machines Co. (NYSE:IBM) Shares Bought by Savvy Advisors Inc.

Savvy Advisors Inc. boosted its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 261.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,036 shares of the technology company's stock after acquiring an additional 10,152 shares during the period. International Business Machines accounts for about 0.6% of Savvy Advisors Inc.'s holdings, making the stock its 28th biggest position. Savvy Advisors Inc.'s holdings in International Business Machines were worth $3,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines during the 2nd quarter worth $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines during the third quarter valued at about $5,117,000. Focused Wealth Management Inc grew its stake in shares of International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company's stock valued at $2,504,000 after acquiring an additional 3,887 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of International Business Machines by 4.5% during the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company's stock valued at $30,992,000 after acquiring an additional 6,004 shares in the last quarter. Finally, F M Investments LLC lifted its position in shares of International Business Machines by 39.6% during the third quarter. F M Investments LLC now owns 61,938 shares of the technology company's stock worth $13,696,000 after purchasing an additional 17,554 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on IBM. Bank of America raised their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a report on Monday, October 21st. The Goldman Sachs Group raised their price objective 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. Royal Bank of Canada reiterated an "outperform" rating and set a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Finally, Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $208.12.

International Business Machines Stock Down 1.2 %

IBM traded down $2.64 during trading on Tuesday, hitting $210.93. The stock had a trading volume of 2,817,755 shares, compared to its average volume of 4,233,095. The company has a market capitalization of $195.04 billion, a PE ratio of 30.53, a PEG ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a twelve month low of $147.35 and a twelve month high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a 50 day simple moving average of $218.25 and a two-hundred day simple moving average of $192.68.

International Business Machines (NYSE:IBM - Get Free Report) last issued its 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. 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 during the quarter, compared to analysts' expectations of $15.08 billion. During the same quarter last year, the company posted $2.20 earnings per share. The firm's revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

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

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company's stock.

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.