Savvy Advisors Inc. Grows Stock Position in International Business Machines Co. (NYSE:IBM)

Savvy Advisors Inc. lifted its stake in International Business Machines Co. (NYSE:IBM) by 261.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,036 shares of the technology company’s stock after buying an additional 10,152 shares during the quarter. International Business Machines makes up 0.6% of Savvy Advisors Inc.’s holdings, making the stock its 28th largest position. Savvy Advisors Inc.’s holdings in International Business Machines were worth $3,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Winslow Asset Management Inc. increased its stake in shares of International Business Machines by 2.2% during the third quarter. Winslow Asset Management Inc. now owns 43,175 shares of the technology company’s stock worth $9,545,000 after purchasing an additional 921 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in International Business Machines by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock worth $546,824,000 after buying an additional 32,732 shares in the last quarter. Apollon Financial LLC purchased a new stake in International Business Machines during the 3rd quarter worth approximately $202,000. WealthPlan Investment Management LLC raised its holdings in shares of International Business Machines by 12.4% during the third quarter. WealthPlan Investment Management LLC now owns 46,098 shares of the technology company’s stock valued at $10,191,000 after acquiring an additional 5,077 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of International Business Machines by 12.4% in the third quarter. Harbour Investments Inc. now owns 6,205 shares of the technology company’s stock valued at $1,372,000 after acquiring an additional 686 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IBM. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Finally, DZ Bank lowered shares of 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. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

IBM stock opened at $211.80 on Tuesday. The firm has a 50-day moving average of $218.25 and a two-hundred day moving average of $192.68. 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 Co. has a one year low of $147.35 and a one year high of $237.37. The firm has a market capitalization of $195.84 billion, a PE ratio of 31.09, a P/E/G ratio of 4.80 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings results 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 return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. On average, analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given 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 3.15%. International Business Machines’s payout ratio is 97.23%.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company’s stock.

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.