First Horizon Advisors Inc. Buys 3,026 Shares of International Business Machines Co. (NYSE:IBM)

First Horizon Advisors Inc. increased its stake in International Business Machines Co. (NYSE:IBM) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 195,789 shares of the technology company’s stock after purchasing an additional 3,026 shares during the quarter. International Business Machines makes up approximately 1.2% of First Horizon Advisors Inc.’s investment portfolio, making the stock its 13th biggest position. First Horizon Advisors Inc.’s holdings in International Business Machines were worth $43,285,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of IBM. Howe & Rusling Inc. raised its holdings in International Business Machines by 2.8% during the third quarter. Howe & Rusling Inc. now owns 3,233 shares of the technology company’s stock valued at $715,000 after acquiring an additional 88 shares during the period. Jennison Associates LLC raised its holdings in International Business Machines by 11.5% during the third quarter. Jennison Associates LLC now owns 522,131 shares of the technology company’s stock valued at $115,433,000 after acquiring an additional 53,658 shares during the period. MWA Asset Management raised its holdings in International Business Machines by 2.3% during the third quarter. MWA Asset Management now owns 2,745 shares of the technology company’s stock valued at $607,000 after acquiring an additional 63 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of International Business Machines during the third quarter valued at about $553,000. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of International Business Machines during the third quarter valued at about $229,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Performance

International Business Machines stock opened at $210.31 on Wednesday. The company has a market capitalization of $194.46 billion, a PE ratio of 30.61, a P/E/G ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $152.35 and a fifty-two week high of $237.37. 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 company has a 50 day moving average price of $218.98 and a 200-day moving average price of $194.50.

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

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.18%. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.07% of the company’s stock.

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.