Logan Capital Management Inc. Grows Position in International Business Machines Co. (NYSE:IBM)

Logan Capital Management Inc. grew its position in International Business Machines Co. (NYSE:IBM) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,682 shares of the technology company’s stock after purchasing an additional 5,974 shares during the period. International Business Machines makes up approximately 1.1% of Logan Capital Management Inc.’s holdings, making the stock its 19th largest holding. Logan Capital Management Inc.’s holdings in International Business Machines were worth $26,901,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. raised its holdings in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC purchased a new stake in shares of International Business Machines during the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the second quarter worth $36,000. Capital Performance Advisors LLP purchased a new position in shares of International Business Machines in the third quarter valued at $43,000. Finally, Briaud Financial Planning Inc grew its holdings in International Business Machines by 54.3% during the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated 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 directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IBM. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. BMO Capital Markets lifted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Finally, Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $0.75 during trading hours on Friday, hitting $233.01. The stock had a trading volume of 154,516 shares, compared to its average volume of 4,217,116. The stock’s fifty day simple moving average is $222.57 and its 200 day simple moving average is $201.12. The firm has a market capitalization of $215.45 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 5.17 and a beta of 0.73. 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 1-year low of $157.88 and a 1-year high of $239.35.

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. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio (DPR) is 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.