OneAscent Financial Services LLC Acquires New Stake in International Business Machines Co. (NYSE:IBM)

OneAscent Financial Services LLC bought a new stake in International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,732 shares of the technology company’s stock, valued at approximately $825,000.

Other large investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its holdings in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC acquired a new stake in International Business Machines in the 3rd quarter valued at about $29,000. Capital Performance Advisors LLP acquired a new stake in International Business Machines in the 3rd quarter valued at about $43,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the 2nd quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC raised its position in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Evercore ISI lifted 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. Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Finally, UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have assigned 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 target price of $208.12.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $208.09 on Tuesday. The stock has a 50-day moving average price of $218.88 and a two-hundred day moving average price of $194.18. International Business Machines Co. has a 12-month low of $152.35 and a 12-month high of $237.37. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a market cap of $192.41 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 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.