Cassaday & Co Wealth Management LLC Raises Stake in International Business Machines Co. (NYSE:IBM)

Cassaday & Co Wealth Management LLC raised its position in shares of International Business Machines Co. (NYSE:IBM) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,084 shares of the technology company’s stock after purchasing an additional 232 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in International Business Machines were worth $2,893,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Drive Wealth Management LLC purchased a new position in International Business Machines during the third quarter valued at approximately $339,000. Capital City Trust Co. FL lifted its holdings in shares of International Business Machines by 1.3% in the third quarter. Capital City Trust Co. FL now owns 7,902 shares of the technology company’s stock worth $1,747,000 after buying an additional 104 shares in the last quarter. Strengthening Families & Communities LLC lifted its holdings in shares of International Business Machines by 2.8% in the third quarter. Strengthening Families & Communities LLC now owns 20,304 shares of the technology company’s stock worth $4,489,000 after buying an additional 555 shares in the last quarter. Holistic Financial Partners lifted its holdings in shares of International Business Machines by 40.2% in the third quarter. Holistic Financial Partners now owns 3,450 shares of the technology company’s stock worth $763,000 after buying an additional 990 shares in the last quarter. Finally, J. W. Coons Advisors LLC lifted its holdings in shares of International Business Machines by 1.5% in the third quarter. J. W. Coons Advisors LLC now owns 19,611 shares of the technology company’s stock worth $4,336,000 after buying an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IBM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. 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. Finally, Morgan Stanley cut their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock 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 assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $208.12.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by company insiders.

International Business Machines Stock Down 1.9 %

Shares of International Business Machines stock opened at $204.99 on Monday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 1 year low of $152.13 and a 1 year high of $237.37. The firm’s 50-day moving average is $218.79 and its two-hundred day moving average is $193.88. The stock has a market cap of $189.54 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 4.60 and a beta of 0.71.

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, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the business earned $2.20 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, November 12th. 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.