Lavaca Capital LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Lavaca Capital LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 993 shares of the technology company’s stock, valued at approximately $220,000.

Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after acquiring an additional 330,694 shares during the period. Ameriprise Financial Inc. lifted its holdings in International Business Machines by 6.4% during 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 in the last quarter. FMR LLC boosted its position in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after purchasing an additional 294,276 shares during the period. Dimensional Fund Advisors LP increased its stake 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 worth $829,431,000 after purchasing an additional 304,390 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of International Business Machines by 0.5% during the 3rd 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 period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on IBM. Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Evercore ISI lifted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley dropped 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 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

NYSE:IBM opened at $227.41 on Friday. The firm has a market capitalization of $210.27 billion, a PE ratio of 33.10, a PEG ratio of 5.11 and a beta of 0.71. The stock’s fifty day moving average is $220.63 and its 200 day moving average is $197.48. International Business Machines Co. has a fifty-two week low of $156.89 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.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid 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 dividend yield of 2.94%. International Business Machines’s dividend payout ratio is 97.23%.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.