SouthState Corp Has $5.92 Million Holdings in International Business Machines Co. (NYSE:IBM)

SouthState Corp grew its position in International Business Machines Co. (NYSE:IBM) by 1.1% in the third quarter, HoldingsChannel.com reports. The fund owned 26,789 shares of the technology company’s stock after buying an additional 300 shares during the quarter. SouthState Corp’s holdings in International Business Machines were worth $5,923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. raised its holdings in shares of International Business Machines by 1,054.5% in the third 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 last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines during the third quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the second quarter valued at about $36,000. Wolff Wiese Magana LLC increased its position in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in International Business Machines during the 3rd quarter worth about $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

International Business Machines stock opened at $208.09 on Tuesday. The company has a market capitalization of $192.41 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 4.60 and a beta of 0.71. The stock’s 50 day moving average is $218.88 and its 200-day moving average is $194.18. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $152.35 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 EPS. Equities research analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared 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 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Analysts Set New Price Targets

IBM has been the topic of a number of analyst reports. Bank of America increased their price target 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. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley dropped their price target on 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. Finally, Jefferies Financial Group boosted 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $208.12.

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.