Turtle Creek Wealth Advisors LLC Acquires 1,081 Shares of International Business Machines Co. (NYSE:IBM)

Turtle Creek Wealth Advisors LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 86.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,332 shares of the technology company’s stock after purchasing an additional 1,081 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in International Business Machines were worth $516,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IBM. ESL Trust Services LLC acquired a new stake in International Business Machines in the 1st quarter valued at about $28,000. Hazlett Burt & Watson Inc. raised its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines during the 3rd quarter worth $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the 2nd quarter worth $36,000. Finally, Wolff Wiese Magana LLC boosted its position in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several research reports. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $208.12.

Insiders Place Their Bets

In other International Business Machines 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 transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Down 1.9 %

Shares of IBM stock traded down $4.00 during trading hours on Friday, hitting $204.99. 3,986,460 shares of the company were exchanged, compared to its average volume of 4,237,182. The company has a market capitalization of $189.54 billion, a PE ratio of 29.84, a PEG ratio of 4.74 and a beta of 0.71. International Business Machines Co. has a 52 week low of $152.13 and a 52 week high of $237.37. The business has a 50 day moving average of $218.79 and a two-hundred day moving average of $193.48. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. Analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.26%. International Business Machines’s payout ratio is currently 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.