International Business Machines Co. (NYSE:IBM) Position Boosted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its holdings in International Business Machines Co. (NYSE:IBM) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,816 shares of the technology company’s stock after acquiring an additional 140 shares during the period. Oppenheimer Asset Management Inc.’s holdings in International Business Machines were worth $34,669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IBM. Hazlett Burt & Watson Inc. boosted its stake in shares of 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 buying an additional 116 shares during the period. Hara Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $29,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the first quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new position in International Business Machines during the third quarter worth $43,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the second quarter worth about $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IBM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group upped their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, Morgan Stanley reduced their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $208.12.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was 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 owns 25,390 shares in the company, valued at $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

International Business Machines Trading Down 0.4 %

Shares of IBM traded down $0.86 during mid-day trading on Wednesday, hitting $210.00. 149,128 shares of the company’s stock traded hands, compared to its average volume of 4,214,546. 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 1 year low of $149.05 and a 1 year high of $237.37. The firm has a market capitalization of $194.18 billion, a P/E ratio of 30.65, a PEG ratio of 4.80 and a beta of 0.71. The business’s 50-day moving average price is $218.44 and its 200-day moving average price is $192.98.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 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.