3,041 Shares in International Business Machines Co. (NYSE:IBM) Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new position in International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,041 shares of the technology company’s stock, valued at approximately $672,000.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Eagle Asset Management Inc. boosted its position in International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after purchasing an additional 536,785 shares during the period. Strategic Financial Concepts LLC grew its holdings in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after purchasing an additional 468,567 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of International Business Machines by 103.1% in the third quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock worth $195,948,000 after buying an additional 449,912 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price 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. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Price Performance

Shares of IBM stock opened at $227.41 on Monday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock’s fifty day simple moving average is $220.63 and its 200 day simple moving average is $197.69. International Business Machines Co. has a one year low of $156.89 and a one year high of $237.37. The firm has a market cap of $210.27 billion, a price-to-earnings ratio of 33.10, a P/E/G ratio of 5.11 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. On average, analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. 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 2.94%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity at International Business Machines

In other 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 approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

International Business Machines 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.