Brown Brothers Harriman & Co. Buys 2,094 Shares of International Business Machines Co. (NYSE:IBM)

Brown Brothers Harriman & Co. boosted its stake in International Business Machines Co. (NYSE:IBM) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,488 shares of the technology company’s stock after purchasing an additional 2,094 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in International Business Machines were worth $10,056,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI acquired a new stake in International Business Machines in the first quarter worth $2,120,000. Waverly Advisors LLC raised its stake in International Business Machines by 59.1% during the 1st quarter. Waverly Advisors LLC now owns 30,242 shares of the technology company’s stock worth $5,775,000 after buying an additional 11,233 shares during the period. Janus Henderson Group PLC lifted its holdings in International Business Machines by 17.1% during the first quarter. Janus Henderson Group PLC now owns 717,202 shares of the technology company’s stock worth $136,946,000 after acquiring an additional 104,771 shares in the last quarter. Ancora Advisors LLC grew its stake in International Business Machines by 2.3% in the first quarter. Ancora Advisors LLC now owns 8,214 shares of the technology company’s stock valued at $1,569,000 after acquiring an additional 183 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of International Business Machines by 13.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 94,887 shares of the technology company’s stock worth $18,120,000 after acquiring an additional 11,497 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IBM shares. The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Evercore ISI upped 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. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Stifel Nicolaus upped their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $208.12.

Insider Activity

In related 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 value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 0.3 %

NYSE IBM opened at $222.97 on Monday. The company has a market cap of $206.17 billion, a PE ratio of 32.46, a PEG ratio of 5.01 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 stock has a 50 day moving average of $219.45 and a 200-day moving average of $195.57. 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 announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. On average, equities research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.00%. International Business Machines’s dividend payout ratio is 97.23%.

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.