Royal London Asset Management Ltd. Grows Stake in International Business Machines Co. (NYSE:IBM)

Royal London Asset Management Ltd. lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,996 shares of the technology company’s stock after purchasing an additional 13,569 shares during the period. Royal London Asset Management Ltd.’s holdings in International Business Machines were worth $88,431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Retirement Investment Advisors Inc. increased its stake in shares of International Business Machines by 25.0% during the third quarter. Retirement Investment Advisors Inc. now owns 2,640 shares of the technology company’s stock worth $584,000 after purchasing an additional 528 shares in the last quarter. Reynders McVeigh Capital Management LLC increased its stake in shares of International Business Machines by 3.2% during the third quarter. Reynders McVeigh Capital Management LLC now owns 115,125 shares of the technology company’s stock worth $25,452,000 after purchasing an additional 3,534 shares in the last quarter. Pinnacle Family Advisors LLC purchased a new stake in International Business Machines during the 3rd quarter valued at about $210,000. IHT Wealth Management LLC grew its stake in International Business Machines by 28.0% during the 3rd quarter. IHT Wealth Management LLC now owns 19,829 shares of the technology company’s stock valued at $4,375,000 after acquiring an additional 4,332 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in International Business Machines by 26.6% during the 3rd quarter. Janus Henderson Group PLC now owns 871,064 shares of the technology company’s stock valued at $192,557,000 after acquiring an additional 183,141 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on IBM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. UBS Group upped their price objective on shares of 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 upped their price objective 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. Bank of America upped their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley dropped their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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 stock in a transaction that occurred 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by company insiders.

International Business Machines Stock Performance

Shares of IBM stock opened at $233.59 on Thursday. The firm’s 50 day moving average price is $221.17 and its 200-day moving average price is $198.76. 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 one year low of $157.88 and a one year high of $237.37. The firm has a market cap of $215.99 billion, a P/E ratio of 34.00, a P/E/G ratio of 5.14 and a beta of 0.73.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the business posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Co. will post 10.12 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. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.86%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.