HighTower Advisors LLC Grows Stock Position in International Business Machines Co. (NYSE:IBM)

HighTower Advisors LLC grew its position in shares of International Business Machines Co. (NYSE:IBM) by 6.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,423,795 shares of the technology company’s stock after purchasing an additional 85,707 shares during the period. HighTower Advisors LLC’s holdings in International Business Machines were worth $314,762,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its stake in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the period. Hara Capital LLC acquired a new stake in shares of International Business Machines during the third quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the second quarter worth about $36,000. Wolff Wiese Magana LLC lifted its stake in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in International Business Machines in the third quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $227.40 on Tuesday. 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 company has a market cap of $210.27 billion, a P/E ratio of 33.10, a PEG ratio of 5.11 and a beta of 0.73. International Business Machines Co. has a 12 month low of $157.88 and a 12 month high of $237.37. The stock has a fifty day moving average price of $220.63 and a 200 day moving average price of $197.69.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $2.20 earnings per share. On average, research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley dropped their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. BMO Capital Markets increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Bank of America lifted their price target on International Business Machines from $209.00 to $250.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus 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.