Fifth Third Wealth Advisors LLC Increases Stock Position in International Business Machines Co. (NYSE:IBM)

Fifth Third Wealth Advisors LLC increased its holdings in International Business Machines Co. (NYSE:IBM) by 25.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,369 shares of the technology company’s stock after acquiring an additional 2,915 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in International Business Machines were worth $3,177,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Morgan Stanley dropped their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Finally, UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

NYSE:IBM opened at $208.09 on Tuesday. 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 company has a market capitalization of $192.41 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The firm has a 50-day moving average price of $218.88 and a two-hundred day moving average price of $194.18. International Business Machines Co. has a twelve month low of $152.35 and a twelve month high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 EPS. As a group, research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.07% of the stock is owned by insiders.

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.