Rockefeller Capital Management L.P. Acquires 29,813 Shares of International Business Machines Co. (NYSE:IBM)

Rockefeller Capital Management L.P. lifted its stake in International Business Machines Co. (NYSE:IBM) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 436,215 shares of the technology company’s stock after purchasing an additional 29,813 shares during the period. Rockefeller Capital Management L.P.’s holdings in International Business Machines were worth $96,433,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in International Business Machines in the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter worth $36,000. Wolff Wiese Magana LLC boosted its position in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of International Business Machines in the 3rd quarter valued at $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $226.92 on Friday. The stock has a market capitalization of $209.82 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 5.09 and a beta of 0.71. International Business Machines Co. has a 52 week low of $154.86 and a 52 week high of $237.37. The stock has a 50 day moving average price of $220.43 and a 200 day moving average price of $196.86. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business 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 revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $2.20 earnings per share. Analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Analysts Set New Price Targets

IBM has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. UBS Group raised their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, BMO Capital Markets increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $208.12.

Insiders Place Their Bets

In other International Business Machines 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 transaction 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 trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

About International Business Machines

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.