Rep. Lloyd Doggett Purchases Shares of International Business Machines Co. (NYSE:IBM)

Representative Lloyd Doggett (D-Texas) recently bought shares of International Business Machines Co. (NYSE:IBM). In a filing disclosed on January 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in International Business Machines stock on December 10th.

Representative Lloyd Doggett also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Coca-Cola (NYSE:KO) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of PPG Industries (NYSE:PPG) on 12/12/2024.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 12/12/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 12/10/2024.
• Purchased $1,001 – $15,000 in shares of Procter & Gamble (NYSE:PG) on 11/15/2024.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $223.15 on Friday. International Business Machines Co. has a 12 month low of $159.51 and a 12 month high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market cap of $206.33 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The business has a fifty day simple moving average of $221.70 and a 200-day simple moving average of $208.69.

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 the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. 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. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley upped their target price on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Two 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $214.88.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. boosted its position 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 acquiring an additional 116 shares during the period. Hara Capital LLC acquired a new position in International Business Machines during the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the 2nd quarter valued at $36,000. Modus Advisors LLC acquired a new stake in International Business Machines in the 4th quarter worth $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines during the 3rd quarter worth about $43,000. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction 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 sale, the senior vice president now 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 filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by company insiders.

About Representative Doggett

Lloyd Doggett (Democratic Party) is a member of the U.S. House, representing Texas’ 37th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Doggett (Democratic Party) is running for re-election to the U.S. House to represent Texas’ 37th Congressional District. He declared candidacy for the Democratic primary scheduled on March 5, 2024. In the 116th Congress, Doggett served on the House Ways & Means Committee, and he co-founded the House Prescription Drug Taskforce. Doggett began his political career in the Texas State Senate, where he served from 1973 to 1985. He then served as a member of the Texas Supreme Court from 1989 until 1994. He represented Texas’ 25th Congressional District from 2005 to 2013 and Texas’ 10th Congressional District from 1995 to 2005. As of a 2014 analysis of multiple outside rankings, Doggett is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. Lloyd Doggett was born in Austin, Texas. Doggett graduated from Austin High School in 1964. He earned a B.A. from the University of Texas at Austin in 1967 and a J.D. from the University of Texas in 1970. Doggett’s career experience includes working as an adjunct professor with the University of Texas School of Law.

International Business Machines Company 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.