Old North State Trust LLC Buys 525 Shares of International Business Machines Co. (NYSE:IBM)

Old North State Trust LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 13.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,399 shares of the technology company’s stock after purchasing an additional 525 shares during the quarter. Old North State Trust LLC’s holdings in International Business Machines were worth $973,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IBM. Meeder Asset Management Inc. boosted its stake in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines during the 2nd quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC bought a new stake in International Business Machines during the 3rd quarter worth approximately $5,117,000. Aljian Capital Management LLC acquired a new position in International Business Machines in the 3rd quarter valued at approximately $611,000. Finally, Focused Wealth Management Inc lifted its holdings in shares of International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. BMO Capital Markets increased their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company 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 stock a “hold” rating in a research report on Monday, October 21st. Finally, UBS Group increased 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. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Activity at International Business Machines

In other International Business Machines 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Price Performance

Shares of IBM opened at $232.26 on Friday. The stock has a market cap of $214.76 billion, a P/E ratio of 33.81, a P/E/G ratio of 5.17 and a beta of 0.73. The business’s fifty day moving average is $222.57 and its 200 day moving average is $201.12. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12-month low of $157.88 and a 12-month high of $239.35.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines’s dividend payout ratio (DPR) is currently 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.