Cynosure Group LLC Has $11.09 Million Holdings in International Business Machines Co. (NYSE:IBM)

Cynosure Group LLC grew its stake in International Business Machines Co. (NYSE:IBM) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,146 shares of the technology company’s stock after purchasing an additional 123 shares during the period. International Business Machines comprises about 1.6% of Cynosure Group LLC’s investment portfolio, making the stock its 17th biggest position. Cynosure Group LLC’s holdings in International Business Machines were worth $11,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its stake in International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines during the 2nd quarter worth about $7,160,000. Philip James Wealth Mangement LLC bought a new stake in International Business Machines in the third quarter valued at about $5,117,000. Aljian Capital Management LLC bought a new stake in International Business Machines in the third quarter valued at about $611,000. Finally, Focused Wealth Management Inc raised its position in International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.2 %

NYSE:IBM opened at $228.85 on Wednesday. The stock’s fifty day moving average price is $219.93 and its two-hundred day moving average price is $196.43. The company has a market cap of $211.61 billion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 5.08 and a beta of 0.71. International Business Machines Co. has a 52-week low of $154.75 and a 52-week high of $237.37. 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 (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The business 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 firm’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 earnings per share. On average, analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared 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. This represents a $6.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Finally, Bernstein Bank increased their target price on shares of 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. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.