International Business Machines Co. (NYSE:IBM) Stock Position Increased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in shares of International Business Machines Co. (NYSE:IBM) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,271 shares of the technology company’s stock after purchasing an additional 12,865 shares during the period. CIBC Asset Management Inc’s holdings in International Business Machines were worth $37,201,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the 1st quarter worth about $28,000. Hazlett Burt & Watson Inc. increased its stake in shares of 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 valued at $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 approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC increased its position in shares of 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 purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of several research reports. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Bank of America lifted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley cut their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $208.12.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $204.99 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market capitalization of $189.54 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The company has a 50 day simple moving average of $218.70 and a 200-day simple moving average of $193.22. International Business Machines Co. has a 52-week low of $152.13 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts predict that International Business Machines Co. will post 10.11 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. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

About International Business Machines

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.