Edgestream Partners L.P. Buys 1,098 Shares of International Business Machines Co. (NYSE:IBM)

Edgestream Partners L.P. boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 21.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,304 shares of the technology company’s stock after buying an additional 1,098 shares during the period. Edgestream Partners L.P.’s holdings in International Business Machines were worth $1,394,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. L.M. Kohn & Company boosted its stake in International Business Machines by 12.9% in the third quarter. L.M. Kohn & Company now owns 2,238 shares of the technology company’s stock worth $495,000 after purchasing an additional 255 shares in the last quarter. Captrust Financial Advisors grew its holdings in International Business Machines by 6.1% during the 3rd quarter. Captrust Financial Advisors now owns 474,365 shares of the technology company’s stock worth $104,873,000 after acquiring an additional 27,104 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of International Business Machines by 7.3% in the third quarter. Rockefeller Capital Management L.P. now owns 436,215 shares of the technology company’s stock worth $96,433,000 after acquiring an additional 29,813 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in shares of International Business Machines during the third quarter worth approximately $185,000. Finally, Vinva Investment Management Ltd bought a new stake in shares of International Business Machines during the third quarter valued at approximately $599,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $229.00 on Wednesday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market capitalization of $211.74 billion, a PE ratio of 33.33, a P/E/G ratio of 5.11 and a beta of 0.73. The stock has a 50 day simple moving average of $220.92 and a 200 day simple moving average of $198.52. International Business Machines Co. has a 52-week low of $157.88 and a 52-week high of $237.37.

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

International Business Machines Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.92%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This 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 this hyperlink. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Stifel Nicolaus upped their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. UBS Group lifted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. 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 report on Thursday, October 3rd. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus 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.