Pegasus Partners Ltd. Makes New $208,000 Investment in International Business Machines Co. (NYSE:IBM)

Pegasus Partners Ltd. purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, Holdings Channel.com reports. The fund purchased 943 shares of the technology company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Ellenbecker Investment Group grew its holdings in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares in the last quarter. Goldstein Advisors LLC grew its stake in International Business Machines by 4.0% in the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the period. Sollinda Capital Management LLC increased its position in shares of International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the last quarter. Lansing Street Advisors raised its stake in shares of International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after purchasing an additional 49 shares during the period. Finally, Ascent Wealth Partners LLC boosted its holdings in shares of International Business Machines by 0.7% in the 3rd quarter. Ascent Wealth Partners LLC now owns 7,144 shares of the technology company’s stock worth $1,579,000 after buying an additional 49 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’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 value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Price Performance

IBM stock opened at $213.66 on Friday. The firm has a 50 day moving average of $218.02 and a 200-day moving average of $192.24. 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 firm has a market capitalization of $197.56 billion, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a 12 month low of $145.28 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 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 firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the business earned $2.20 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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