Birmingham Capital Management Co. Inc. AL Has $7.69 Million Stake in International Business Machines Co. (NYSE:IBM)

Birmingham Capital Management Co. Inc. AL raised its position in shares of International Business Machines Co. (NYSE:IBM) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,793 shares of the technology company’s stock after acquiring an additional 835 shares during the period. International Business Machines makes up about 2.8% of Birmingham Capital Management Co. Inc. AL’s investment portfolio, making the stock its 10th largest position. Birmingham Capital Management Co. Inc. AL’s holdings in International Business Machines were worth $7,692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Logan Capital Management Inc. grew its holdings in International Business Machines by 5.2% during the 3rd quarter. Logan Capital Management Inc. now owns 121,682 shares of the technology company’s stock valued at $26,901,000 after purchasing an additional 5,974 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of International Business Machines during the third quarter valued at approximately $5,396,000. Capasso Planning Partners LLC raised its holdings in shares of International Business Machines by 31.8% in the third quarter. Capasso Planning Partners LLC now owns 4,737 shares of the technology company’s stock worth $1,047,000 after buying an additional 1,144 shares during the period. Inspire Trust Co. N.A. raised its holdings in shares of International Business Machines by 6.4% in the third quarter. Inspire Trust Co. N.A. now owns 16,525 shares of the technology company’s stock worth $3,653,000 after buying an additional 1,000 shares during the period. Finally, Old North State Trust LLC lifted its stake in shares of International Business Machines by 13.6% during the 3rd quarter. Old North State Trust LLC now owns 4,399 shares of the technology company’s stock worth $973,000 after acquiring an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Down 0.2 %

IBM stock traded down $0.50 during trading on Friday, reaching $231.76. 334,124 shares of the company traded hands, compared to its average volume of 4,217,625. The company has a market capitalization of $214.30 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. 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 has a 50 day simple moving average of $222.57 and a 200 day simple moving average of $201.12. International Business Machines Co. has a 12 month low of $157.88 and a 12 month high of $239.35.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the company posted $2.20 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Analyst Ratings Changes

A number of research firms have weighed in on IBM. The Goldman Sachs Group increased their target price 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. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Bernstein Bank upped their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Finally, Bank of America lifted their price target 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 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 stock. According to MarketBeat, the stock 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.