Peapack Gladstone Financial Corp Has $33.86 Million Holdings in International Business Machines Co. (NYSE:IBM)

Peapack Gladstone Financial Corp decreased its holdings in International Business Machines Co. (NYSE:IBM) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 153,164 shares of the technology company’s stock after selling 7,095 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in International Business Machines were worth $33,862,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in IBM. International Assets Investment Management LLC grew its holdings in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of International Business Machines in the 3rd quarter worth about $573,306,000. State Street Corp grew its holdings in shares of 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 worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after purchasing an additional 536,785 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $232.26 on Friday. The company has a market capitalization of $214.76 billion, a price-to-earnings ratio of 33.81, a P/E/G ratio of 5.17 and a beta of 0.73. The firm’s 50 day simple moving average is $222.57 and its 200 day simple moving average is $201.12. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. 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 announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for 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%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company posted $2.20 EPS. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is 97.23%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $208.12.

Insider Activity at International Business Machines

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 transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $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 accessible through this link. 0.07% of the stock is currently owned by corporate insiders.

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.