Patton Albertson Miller Group LLC Increases Position in International Business Machines Co. (NYSE:IBM)

Patton Albertson Miller Group LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,337 shares of the technology company’s stock after acquiring an additional 1,087 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in International Business Machines were worth $5,823,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of IBM. Ellenbecker Investment Group boosted its stake in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares during the period. Goldstein Advisors LLC raised its holdings in shares of International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC raised its holdings in shares of International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after buying an additional 47 shares during the last quarter. Sollinda Capital Management LLC raised its holdings in shares of International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after buying an additional 49 shares during the last quarter. Finally, Lansing Street Advisors raised its holdings in International Business Machines by 3.4% during the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after purchasing an additional 49 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

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 of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Performance

NYSE IBM opened at $226.25 on Tuesday. The firm has a 50-day moving average of $219.63 and a 200-day moving average of $196.00. 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 cap of $209.20 billion, a PE ratio of 32.93, a P/E/G ratio of 5.01 and a beta of 0.71. International Business Machines Co. has a 52-week low of $154.75 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The company 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 business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 EPS. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IBM. Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Morgan Stanley lowered their price objective 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. Jefferies Financial Group boosted their price target 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, Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three equities research 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Company 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.