Truepoint Inc. Acquires Shares of 1,321 International Business Machines Co. (NYSE:IBM)

Truepoint Inc. acquired a new stake in International Business Machines Co. (NYSE:IBM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,321 shares of the technology company’s stock, valued at approximately $292,000.

A number of other large investors have also recently made changes to their positions in the business. Legal & General Group Plc lifted its stake in shares of International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after buying an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after purchasing an additional 304,390 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after purchasing an additional 12,400 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $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 is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. DZ Bank downgraded 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 report on Wednesday, October 2nd. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Bernstein Bank raised 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 report on Thursday, October 3rd. Finally, Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three equities 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $222.97 on Friday. The company has a 50 day moving average of $219.45 and a 200 day moving average of $195.39. The stock has a market cap of $206.17 billion, a P/E ratio of 32.46, a P/E/G ratio of 4.99 and a beta of 0.71. International Business Machines Co. has a 12 month low of $153.92 and a 12 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.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the company earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. International Business Machines’s dividend payout ratio is presently 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.