LJI Wealth Management LLC Buys New Shares in International Business Machines Co. (NYSE:IBM)

LJI Wealth Management LLC purchased a new stake in International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,090 shares of the technology company’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds also recently modified their holdings of IBM. Hazlett Burt & Watson Inc. boosted its position in shares of International Business Machines by 1,054.5% in the 3rd 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 during the period. Hara Capital LLC purchased a new position in shares of International Business Machines in the third quarter worth approximately $29,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the 1st quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new position in International Business Machines in the 3rd quarter worth approximately $43,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction 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 approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by insiders.

International Business Machines Stock Down 1.9 %

Shares of NYSE IBM traded down $4.00 during mid-day trading on Friday, reaching $204.99. 3,986,460 shares of the company traded hands, compared to its average volume of 4,237,182. The company’s fifty day moving average is $218.79 and its two-hundred day moving average is $193.48. International Business Machines Co. has a fifty-two week low of $152.13 and a fifty-two week high of $237.37. 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 stock has a market cap of $189.54 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for 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 company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. On average, analysts expect 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 3.26%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their target price 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. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. UBS Group boosted their price objective 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. Finally, Morgan Stanley cut 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. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average 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.