International Business Machines Co. (NYSE:IBM) Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. raised its stake in International Business Machines Co. (NYSE:IBM) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,435 shares of the technology company’s stock after buying an additional 175 shares during the quarter. Pittenger & Anderson Inc.’s holdings in International Business Machines were worth $3,412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ellenbecker Investment Group raised its holdings in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the period. Goldstein Advisors LLC increased its stake in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 47 shares during the period. Sollinda Capital Management LLC lifted its position in shares of International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after purchasing an additional 49 shares in the last quarter. Lansing Street Advisors boosted its stake in shares of International Business Machines by 3.4% in the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after purchasing an additional 49 shares during the period. Finally, Northern Financial Advisors Inc grew its holdings in shares of International Business Machines by 0.6% in the third quarter. Northern Financial Advisors Inc now owns 7,815 shares of the technology company’s stock valued at $1,728,000 after purchasing an additional 50 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IBM shares. Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Morgan Stanley decreased their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets upped their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

Shares of IBM opened at $206.32 on Tuesday. 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 $145.28 and a 1-year high of $237.37. The stock has a market cap of $190.77 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 4.68 and a beta of 0.71. The firm has a fifty day moving average price of $217.01 and a 200 day moving average price of $191.53.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating 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 previous year, the business earned $2.20 EPS. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.24%. International Business Machines’s dividend payout ratio (DPR) is presently 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.