International Business Machines Co. (NYSE:IBM) Position Lifted by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its stake in International Business Machines Co. (NYSE:IBM) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 14,815 shares of the technology company’s stock after purchasing an additional 302 shares during the period. Citizens Financial Group Inc. RI’s holdings in International Business Machines were worth $3,275,000 as of its most recent SEC filing.

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 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 period. Hara Capital LLC bought a new position in International Business Machines in the third quarter worth about $29,000. Capital Performance Advisors LLP acquired a new position in International Business Machines in the third quarter valued at approximately $43,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the second quarter valued at approximately $36,000. Finally, Wolff Wiese Magana LLC raised its position in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. UBS Group lifted 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 report on Wednesday, September 4th. The Goldman Sachs Group upped their target price 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. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

Shares of NYSE IBM opened at $222.30 on Friday. International Business Machines Co. has a twelve month low of $153.92 and a twelve month high of $237.37. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a 50-day moving average of $219.29 and a two-hundred day moving average of $194.83. The company has a market capitalization of $205.55 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 4.72 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during 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 period last year, the firm posted $2.20 earnings per share. As a group, analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s 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 sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is currently owned by company insiders.

About International Business Machines

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.