Certified Advisory Corp Buys 2,035 Shares of International Business Machines Co. (NYSE:IBM)

Certified Advisory Corp increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 43.8% during the third quarter, HoldingsChannel.com reports. The fund owned 6,678 shares of the technology company’s stock after buying an additional 2,035 shares during the quarter. Certified Advisory Corp’s holdings in International Business Machines were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of IBM. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC bought a new stake in International Business Machines during the third quarter worth $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the second quarter valued at $36,000. Wolff Wiese Magana LLC raised 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 valued at $38,000 after buying an additional 60 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of International Business Machines in the third quarter valued at $43,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

IBM opened at $223.02 on Friday. The stock has a 50-day moving average price of $219.45 and a 200-day moving average price of $195.21. International Business Machines Co. has a 12-month low of $153.92 and a 12-month high of $237.37. 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 stock has a market capitalization of $206.21 billion, a P/E ratio of 32.46, a PEG ratio of 4.99 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating 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 analyst estimates of $15.08 billion. During the same quarter in the previous year, the company posted $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Stifel Nicolaus lifted their price target 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, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $208.12.

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.