Oddo BHF Asset Management Sas Invests $5.40 Million in International Business Machines Co. (NYSE:IBM)

Oddo BHF Asset Management Sas bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 24,406 shares of the technology company’s stock, valued at approximately $5,396,000.

Several other hedge funds have also modified their holdings of IBM. Lantz Financial LLC raised its position in shares of International Business Machines by 0.9% during the 2nd quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after purchasing an additional 107 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth about $367,000. Triad Wealth Partners LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth about $57,000. Pure Financial Advisors LLC raised its position in shares of International Business Machines by 19.6% during the 2nd quarter. Pure Financial Advisors LLC now owns 4,944 shares of the technology company’s stock worth $855,000 after purchasing an additional 809 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of International Business Machines by 25.5% during the 2nd quarter. Blue Trust Inc. now owns 15,781 shares of the technology company’s stock worth $3,014,000 after purchasing an additional 3,209 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE:IBM opened at $232.70 on Friday. 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 market capitalization of $215.16 billion, a P/E ratio of 33.81, a PEG ratio of 5.17 and a beta of 0.73. The company has a 50 day moving average price of $222.57 and a 200 day moving average price of $201.12. International Business Machines Co. has a fifty-two week low of $157.88 and a fifty-two week high of $239.35.

International Business Machines (NYSE:IBM) last posted 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. 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 firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. Equities research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. International Business Machines’s payout ratio is currently 97.23%.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IBM shares. Morgan Stanley reduced their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Bernstein Bank increased their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.