Moran Wealth Management LLC Raises Stake in International Business Machines Co. (NYSE:IBM)

Moran Wealth Management LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 1.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,447 shares of the technology company’s stock after purchasing an additional 251 shares during the quarter. Moran Wealth Management LLC’s holdings in International Business Machines were worth $4,078,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legal & General Group Plc boosted its holdings in International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after acquiring an additional 330,694 shares during the period. Ameriprise Financial Inc. boosted its holdings in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after acquiring an additional 444,698 shares during the period. Dimensional Fund Advisors LP boosted its holdings in International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after acquiring an additional 304,390 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the period. Finally, Swiss National Bank boosted its stake in shares of International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after buying an additional 12,400 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 2.1 %

NYSE:IBM opened at $214.61 on Thursday. International Business Machines Co. has a 1 year low of $153.51 and a 1 year high of $237.37. The stock has a market cap of $198.44 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.72 and a beta of 0.71. The business has a fifty day moving average of $219.07 and a 200-day moving average of $194.64. 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 (NYSE:IBM) last released its quarterly 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 return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.11%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on 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 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IBM shares. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Morgan Stanley reduced their target price on 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. Jefferies Financial Group increased their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $208.12.

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.