Prospera Private Wealth LLC Invests $553,000 in International Business Machines Co. (NYSE:IBM)

Prospera Private Wealth LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the third quarter, Holdings Channel.com reports. The fund purchased 2,500 shares of the technology company’s stock, valued at approximately $553,000.

A number of other large investors have also modified their holdings of IBM. Hazlett Burt & Watson Inc. grew its stake in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines during the third quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the second quarter worth about $36,000. Wolff Wiese Magana LLC grew its stake in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in International Business Machines in the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 2.1 %

Shares of IBM stock opened at $214.61 on Thursday. 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 company has a market cap of $198.44 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.60 and a beta of 0.71. The stock has a 50 day simple moving average of $219.07 and a 200-day simple moving average of $194.64. International Business Machines Co. has a 1-year low of $153.51 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last announced its earnings results 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 business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. On average, equities research analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company 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 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Jefferies Financial Group upped their target price 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. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Finally, Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $208.12.

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.