Sharper & Granite LLC Invests $240,000 in International Business Machines Co. (NYSE:IBM)

Sharper & Granite LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel reports. The fund purchased 1,090 shares of the technology company’s stock, valued at approximately $240,000.

Other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its holdings in shares of International Business Machines by 1,054.5% during the third 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 shares of International Business Machines during the third quarter worth $29,000. Avondale Wealth Management lifted its holdings in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the period. Modus Advisors LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in International Business Machines during the 3rd quarter valued at approximately $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IBM shares. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Jefferies Financial Group lifted their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $215.81.

International Business Machines Stock Down 1.1 %

International Business Machines stock opened at $217.39 on Tuesday. The firm has a market capitalization of $201.01 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The firm’s fifty day moving average price is $222.14 and its two-hundred day moving average price is $209.84. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. 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 announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.07% of the stock is currently owned by insiders.

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.