Rovin Capital UT ADV Acquires New Position in International Business Machines Co. (NYSE:IBM)

Rovin Capital UT ADV acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,072 shares of the technology company’s stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Sei Investments Co. increased its position in shares of International Business Machines by 10.6% during the first quarter. Sei Investments Co. now owns 211,017 shares of the technology company’s stock valued at $40,294,000 after buying an additional 20,142 shares during the period. Choate Investment Advisors boosted its stake in International Business Machines by 4.8% during the 1st quarter. Choate Investment Advisors now owns 11,680 shares of the technology company’s stock valued at $2,230,000 after purchasing an additional 536 shares during the last quarter. Meeder Advisory Services Inc. raised its position in International Business Machines by 8.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 11,215 shares of the technology company’s stock worth $2,142,000 after buying an additional 870 shares during the last quarter. Verus Capital Partners LLC raised its holdings in shares of International Business Machines by 15.5% during the first quarter. Verus Capital Partners LLC now owns 3,540 shares of the technology company’s stock valued at $676,000 after purchasing an additional 476 shares during the last quarter. Finally, Donoghue Forlines LLC boosted its stake in shares of International Business Machines by 119.7% in the 1st quarter. Donoghue Forlines LLC now owns 16,791 shares of the technology company’s stock worth $3,206,000 after buying an additional 9,149 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other 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 transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on IBM. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Jefferies Financial Group raised their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $213.72 on Friday. International Business Machines Co. has a 12 month low of $145.28 and a 12 month high of $237.37. 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 $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 fifty day moving average price is $218.02 and its 200 day moving average price is $192.24.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate 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 was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 earnings per share. 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 business 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 $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 3.13%. International Business Machines’s dividend payout ratio (DPR) 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.