Platform Technology Partners Has $747,000 Position in International Business Machines Co. (NYSE:IBM)

Platform Technology Partners trimmed its stake in International Business Machines Co. (NYSE:IBM) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,379 shares of the technology company’s stock after selling 70 shares during the quarter. Platform Technology Partners’ holdings in International Business Machines were worth $747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. ESL Trust Services LLC acquired a new position in International Business Machines during the 1st quarter worth approximately $28,000. Hazlett Burt & Watson Inc. raised its position in shares of International Business Machines by 1,054.5% during the third 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 position in shares of International Business Machines during the third quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the 2nd quarter worth $36,000. Finally, Wolff Wiese Magana LLC grew its position in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the period. 58.96% of the stock is owned by institutional investors.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

IBM has been the topic of several research reports. BMO Capital Markets upped 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 report on Thursday, October 24th. UBS Group raised their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Morgan Stanley decreased their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Bernstein Bank raised their target price 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. 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 research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Down 0.0 %

Shares of IBM stock opened at $213.62 on Tuesday. International Business Machines Co. has a 12-month low of $147.35 and a 12-month high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a 50 day moving average of $218.25 and a 200-day moving average of $192.68. The firm has a market cap of $197.52 billion, a P/E ratio of 31.09, a PEG ratio of 4.80 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 for the quarter, topping the consensus estimate 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 company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared 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 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

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.