International Business Machines Co. (NYSE:IBM) Shares Purchased by Novare Capital Management LLC

Novare Capital Management LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBMFree Report) by 21.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,881 shares of the technology company’s stock after acquiring an additional 511 shares during the period. Novare Capital Management LLC’s holdings in International Business Machines were worth $633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. raised its position 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 last quarter. Hara Capital LLC purchased a new stake in International Business Machines during the 3rd quarter worth approximately $29,000. Avondale Wealth Management raised its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines in the third quarter worth approximately $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on IBM shares. The Goldman Sachs Group increased their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley boosted their price target on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. BMO Capital Markets increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $220.73.

Get Our Latest Stock Analysis on International Business Machines

International Business Machines Trading Down 0.6 %

Shares of International Business Machines stock opened at $224.69 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. 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 firm has a market capitalization of $207.75 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.78 and a beta of 0.74. The stock has a 50 day moving average of $224.33 and a 200 day moving average of $212.32.

International Business Machines (NYSE:IBMGet Free Report) last issued its quarterly earnings data 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 firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the company earned $2.20 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’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 sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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