Erste Asset Management GmbH Takes Position in International Business Machines Co. (NYSE:IBM)

Erste Asset Management GmbH purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 188,488 shares of the technology company’s stock, valued at approximately $41,624,000.

A number of other institutional investors have also recently bought and sold shares of IBM. Legal & General Group Plc increased its holdings in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after acquiring an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. FMR LLC raised its position in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of International Business Machines by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after buying an additional 304,390 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after buying an additional 12,400 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.2 %

Shares of IBM opened at $227.41 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52-week low of $156.89 and a 52-week high of $237.37. The firm has a market cap of $210.27 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 5.11 and a beta of 0.71. The business’s fifty day moving average is $220.63 and its 200-day moving average is $197.48.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 earnings per share. Equities analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on IBM. Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Evercore ISI increased their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. 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, the company currently has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Company 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.