Atria Investments Inc Acquires 4,112 Shares of International Business Machines Co. (NYSE:IBM)

Atria Investments Inc increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 81,969 shares of the technology company’s stock after purchasing an additional 4,112 shares during the quarter. Atria Investments Inc’s holdings in International Business Machines were worth $18,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. First Personal Financial Services raised its stake in shares of International Business Machines by 3.7% during the third quarter. First Personal Financial Services now owns 3,531 shares of the technology company’s stock worth $781,000 after buying an additional 127 shares during the last quarter. Lindbrook Capital LLC increased its stake in International Business Machines by 5.5% in the third quarter. Lindbrook Capital LLC now owns 4,812 shares of the technology company’s stock valued at $1,064,000 after purchasing an additional 250 shares in the last quarter. Bridges Investment Management Inc. increased its stake in International Business Machines by 2.6% in the third quarter. Bridges Investment Management Inc. now owns 12,759 shares of the technology company’s stock valued at $2,821,000 after purchasing an additional 321 shares in the last quarter. Klingman & Associates LLC increased its stake in International Business Machines by 30.1% in the third quarter. Klingman & Associates LLC now owns 4,552 shares of the technology company’s stock valued at $1,006,000 after purchasing an additional 1,054 shares in the last quarter. Finally, Assetmark Inc. increased its stake in International Business Machines by 7.4% in the third quarter. Assetmark Inc. now owns 38,478 shares of the technology company’s stock valued at $8,507,000 after purchasing an additional 2,640 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

IBM stock opened at $213.72 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $145.28 and a 12 month high of $237.37. The firm has a market cap of $197.62 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.80 and a beta of 0.71. The company’s 50-day moving average price is $218.02 and its two-hundred day moving average price is $192.24.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the firm earned $2.20 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insiders Place Their Bets

In other International Business Machines 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 sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Morgan Stanley reduced their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Finally, Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target 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.