International Business Machines Co. (NYSE:IBM) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 10.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,991 shares of the technology company’s stock after purchasing an additional 2,298 shares during the quarter. Kingsview Wealth Management LLC’s holdings in International Business Machines were worth $5,525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC bought a new stake in International Business Machines during the 3rd quarter valued at $29,000. Capital Performance Advisors LLP bought a new stake in International Business Machines during the 3rd quarter valued at $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter valued at $36,000. Finally, Wolff Wiese Magana LLC raised its stake in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction 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 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 filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Stock Up 0.3 %

Shares of International Business Machines stock opened at $222.97 on Friday. The stock’s fifty day moving average is $219.45 and its 200-day moving average is $195.39. The firm has a market capitalization of $206.17 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71. 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 $153.92 and a 12-month high of $237.37.

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

International Business Machines Announces Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on IBM shares. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their target price on 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. UBS Group boosted their price objective 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. Finally, The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus 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.