Plato Investment Management Ltd Buys 288 Shares of International Business Machines Co. (NYSE:IBM)

Plato Investment Management Ltd grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,918 shares of the technology company’s stock after purchasing an additional 288 shares during the quarter. Plato Investment Management Ltd’s holdings in International Business Machines were worth $3,074,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cable Hill Partners LLC boosted its holdings in shares of International Business Machines by 6.3% during the third quarter. Cable Hill Partners LLC now owns 6,154 shares of the technology company’s stock worth $1,361,000 after purchasing an additional 364 shares during the period. Main Street Financial Solutions LLC lifted its holdings in International Business Machines by 2.0% in the third quarter. Main Street Financial Solutions LLC now owns 10,237 shares of the technology company’s stock worth $2,263,000 after buying an additional 202 shares during the period. Schrum Private Wealth Management LLC boosted its position in International Business Machines by 100.0% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 2,416 shares of the technology company’s stock valued at $534,000 after acquiring an additional 1,208 shares in the last quarter. Kovack Advisors Inc. grew its holdings in shares of International Business Machines by 9.7% during the 3rd quarter. Kovack Advisors Inc. now owns 15,187 shares of the technology company’s stock worth $3,358,000 after acquiring an additional 1,345 shares during the period. Finally, Saturna Capital Corp lifted its stake in shares of International Business Machines by 3.9% in the 3rd quarter. Saturna Capital Corp now owns 2,123 shares of the technology company’s stock valued at $469,000 after purchasing an additional 80 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE IBM opened at $210.91 on Thursday. 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 business’s fifty day moving average is $218.44 and its 200 day moving average is $192.98. The company has a market capitalization of $195.02 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $149.05 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.17%. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’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 completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent research reports. Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Evercore ISI increased their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, BMO Capital Markets boosted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.