Jennison Associates LLC Increases Stock Position in International Business Machines Co. (NYSE:IBM)

Jennison Associates LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 11.5% in the 3rd quarter, Holdings Channel reports. The firm owned 522,131 shares of the technology company’s stock after acquiring an additional 53,658 shares during the period. Jennison Associates LLC’s holdings in International Business Machines were worth $115,433,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. raised its stake in 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 valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines during the 3rd quarter valued at about $29,000. Capital Performance Advisors LLP bought a new position in shares of International Business Machines in the 3rd quarter valued at about $43,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the second quarter worth about $36,000. Finally, Wolff Wiese Magana LLC increased its stake in 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 acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $214.61 on Thursday. International Business Machines Co. has a twelve month low of $153.51 and a twelve month high of $237.37. 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 stock has a fifty day simple moving average of $219.07 and a two-hundred day simple moving average of $194.64. The stock has a market capitalization of $198.44 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company 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%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. On average, analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.11%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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 dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

IBM has been the subject of a number of recent research reports. Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. BMO Capital Markets lifted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Finally, Bernstein Bank increased their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $208.12.

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.