Caprock Group LLC Acquires 1,920 Shares of International Business Machines Co. (NYSE:IBM)

Caprock Group LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 9.0% during the 3rd quarter, Holdings Channel reports. The firm owned 23,212 shares of the technology company’s stock after buying an additional 1,920 shares during the period. Caprock Group LLC’s holdings in International Business Machines were worth $5,132,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in IBM. Pathstone Holdings LLC grew its holdings in International Business Machines by 3.2% during the 3rd quarter. Pathstone Holdings LLC now owns 115,093 shares of the technology company’s stock valued at $25,445,000 after buying an additional 3,558 shares in the last quarter. New England Asset Management Inc. lifted its stake in International Business Machines by 3.0% in the 3rd quarter. New England Asset Management Inc. now owns 33,175 shares of the technology company’s stock worth $7,334,000 after purchasing an additional 975 shares in the last quarter. Meeder Advisory Services Inc. grew its position in shares of International Business Machines by 5.2% during the third quarter. Meeder Advisory Services Inc. now owns 15,849 shares of the technology company’s stock valued at $3,504,000 after purchasing an additional 788 shares in the last quarter. Spectrum Wealth Advisory Group LLC purchased a new stake in shares of International Business Machines in the third quarter worth about $221,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of International Business Machines in the third quarter worth about $96,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on IBM shares. Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. BMO Capital Markets boosted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Morgan Stanley decreased their price target on shares of 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. Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, UBS Group upped 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 report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Up 1.5 %

NYSE:IBM opened at $208.09 on Tuesday. The company has a market cap of $192.41 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a twelve month low of $152.35 and a twelve 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 fifty day simple moving average of $218.88 and a 200-day simple moving average of $194.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. Analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.21%. International Business Machines’s payout ratio is 97.23%.

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.