LJI Wealth Management LLC Makes New $241,000 Investment in International Business Machines Co. (NYSE:IBM)

LJI Wealth Management LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the third quarter, Holdings Channel reports. The fund acquired 1,090 shares of the technology company’s stock, valued at approximately $241,000.

Several other institutional investors have also made changes to their positions in IBM. Legal & General Group Plc boosted its holdings in International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 valued at $829,431,000 after acquiring an additional 304,390 shares during the period. Price T Rowe Associates Inc. MD raised its stake in International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after acquiring an additional 2,702,340 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.9 %

Shares of NYSE:IBM traded down $4.00 during trading on Friday, hitting $204.99. 3,986,460 shares of the company’s stock were exchanged, compared to its average volume of 4,237,182. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $189.54 billion, a P/E ratio of 29.84, a PEG ratio of 4.74 and a beta of 0.71. The firm has a 50-day moving average price of $218.79 and a two-hundred day moving average price of $193.48. International Business Machines Co. has a 1-year low of $152.13 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm 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 business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 EPS. Equities analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.26%. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IBM shares. The Goldman Sachs Group increased 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. Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned 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.