Zacks Investment Management Boosts Stake in International Business Machines Co. (NYSE:IBM)

Zacks Investment Management lifted its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 41.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,553 shares of the technology company's stock after purchasing an additional 116,668 shares during the quarter. Zacks Investment Management's holdings in International Business Machines were worth $88,333,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. EP Wealth Advisors LLC increased its stake in International Business Machines by 11.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 35,081 shares of the technology company's stock valued at $7,756,000 after purchasing an additional 3,600 shares in the last quarter. Insigneo Advisory Services LLC grew its holdings in shares of International Business Machines by 6.8% during the third quarter. Insigneo Advisory Services LLC now owns 10,033 shares of the technology company's stock valued at $2,218,000 after buying an additional 640 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of International Business Machines by 58.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 101,656 shares of the technology company's stock worth $22,474,000 after acquiring an additional 37,654 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of International Business Machines by 5.0% in the 3rd quarter. Wellington Management Group LLP now owns 227,815 shares of the technology company's stock worth $50,365,000 after acquiring an additional 10,862 shares during the last quarter. Finally, State Street Corp lifted its position in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. 58.96% of the stock is currently 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 the 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 sale, the senior vice president now directly owns 25,390 shares of the company's stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company's stock.

International Business Machines Stock Performance

IBM traded up $3.29 during trading hours on Friday, hitting $238.04. The stock had a trading volume of 4,028,430 shares, compared to its average volume of 3,745,022. International Business Machines Co. has a 1 year low of $157.88 and a 1 year high of $238.38. The company's fifty day simple moving average is $221.40 and its 200 day simple moving average is $199.02. The stock has a market cap of $220.10 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 5.24 and a beta of 0.73. 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 (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $2.20 earnings per share. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.81%. International Business Machines's dividend payout ratio is currently 97.23%.

Analysts Set New Price Targets

A number of brokerages have commented on IBM. Jefferies Financial Group boosted their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Bernstein Bank raised their price objective on 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. Morgan Stanley reduced their target price on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a report 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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.