International Business Machines Co. (NYSE:IBM) Shares Purchased by Chesapeake Wealth Management

Chesapeake Wealth Management increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,363 shares of the technology company’s stock after acquiring an additional 179 shares during the quarter. Chesapeake Wealth Management’s holdings in International Business Machines were worth $522,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC acquired a new position in International Business Machines in the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the 2nd quarter worth approximately $36,000. Wolff Wiese Magana LLC lifted its position in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in International Business Machines in the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 1.5 %

Shares of IBM stock opened at $208.09 on Tuesday. The firm has a fifty day moving average of $218.88 and a 200-day moving average of $194.18. 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 12-month low of $152.35 and a 12-month high of $237.37. The company has a market capitalization of $192.41 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 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 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 for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 earnings per share. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Evercore ISI lifted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley decreased their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently 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.