International Business Machines Co. (NYSE:IBM) Stock Position Boosted by New England Asset Management Inc.

New England Asset Management Inc. grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,175 shares of the technology company’s stock after buying an additional 975 shares during the quarter. International Business Machines comprises 1.1% of New England Asset Management Inc.’s holdings, making the stock its 29th biggest position. New England Asset Management Inc.’s holdings in International Business Machines were worth $7,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines in the second quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines in the third quarter valued at $5,117,000. Aljian Capital Management LLC bought a new position in International Business Machines during the third quarter valued at about $611,000. Focused Wealth Management Inc grew its holdings in 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 worth $2,504,000 after acquiring an additional 3,887 shares during the period. Finally, QRG Capital Management Inc. raised its position in International Business Machines by 4.5% in the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after acquiring an additional 6,004 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lifted their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

Shares of IBM opened at $208.09 on Tuesday. The company’s 50 day moving average price is $218.88 and its 200 day moving average price is $194.18. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52 week low of $152.35 and a 52 week high of $237.37. The company has a market capitalization of $192.41 billion, a PE ratio of 30.29, a PEG ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the company earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared 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. This represents a $6.68 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 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.