International Business Machines Co. (NYSE:IBM) Stock Holdings Boosted by Coastwise Capital Group LLC

Coastwise Capital Group LLC lifted its position in International Business Machines Co. (NYSE:IBM) by 6.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,519 shares of the technology company’s stock after buying an additional 330 shares during the period. International Business Machines makes up 1.0% of Coastwise Capital Group LLC’s holdings, making the stock its 26th largest position. Coastwise Capital Group LLC’s holdings in International Business Machines were worth $1,220,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in International Business Machines during the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the second quarter worth approximately $36,000. Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines during the third quarter worth $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IBM. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets raised 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 research note on Thursday, October 24th. Finally, Bank of America boosted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

Shares of IBM opened at $227.41 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $156.89 and a 12 month high of $237.37. The company’s fifty day moving average is $220.63 and its 200-day moving average is $197.69. The firm has a market cap of $210.27 billion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 5.11 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping 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 analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Tuesday, November 12th. 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 stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by insiders.

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.