Commonwealth Retirement Investments LLC Increases Position in International Business Machines Co. (NYSE:IBM)

Commonwealth Retirement Investments LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,861 shares of the technology company’s stock after acquiring an additional 1,091 shares during the period. International Business Machines makes up about 1.5% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 19th largest position. Commonwealth Retirement Investments LLC’s holdings in International Business Machines were worth $3,507,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cumberland Partners Ltd grew its position in International Business Machines by 16.1% in the 3rd quarter. Cumberland Partners Ltd now owns 7,430 shares of the technology company’s stock valued at $1,643,000 after buying an additional 1,030 shares during the last quarter. Total Investment Management Inc. acquired a new stake in shares of International Business Machines in the 3rd quarter worth $208,000. Savvy Advisors Inc. increased its stake in shares of International Business Machines by 261.4% during the third quarter. Savvy Advisors Inc. now owns 14,036 shares of the technology company’s stock worth $3,103,000 after acquiring an additional 10,152 shares during the period. Winslow Asset Management Inc. raised its holdings in International Business Machines by 2.2% during the third quarter. Winslow Asset Management Inc. now owns 43,175 shares of the technology company’s stock worth $9,545,000 after purchasing an additional 921 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in International Business Machines by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock valued at $546,824,000 after purchasing an additional 32,732 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling

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 directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, 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 note on Monday, October 21st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Trading Down 1.8 %

IBM traded down $3.80 during midday trading on Tuesday, hitting $209.77. The company’s stock had a trading volume of 428,177 shares, compared to its average volume of 4,222,197. International Business Machines Co. has a 52-week low of $147.35 and a 52-week high of $237.37. The firm has a 50-day moving average price of $218.25 and a two-hundred day moving average price of $192.68. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $193.96 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 issued its quarterly 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. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 earnings per share. On average, research analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

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

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.