SevenBridge Financial Group LLC Purchases 585 Shares of International Business Machines Co. (NYSE:IBM)

SevenBridge Financial Group LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,561 shares of the technology company’s stock after acquiring an additional 585 shares during the period. SevenBridge Financial Group LLC’s holdings in International Business Machines were worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Legal & General Group Plc grew its position in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the period. Dimensional Fund Advisors LP increased its position in shares of International Business Machines by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after acquiring an additional 304,390 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. Finally, Swiss National Bank boosted its stake in International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after purchasing an additional 12,400 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.3 %

IBM stock opened at $222.97 on Friday. The business’s 50 day simple moving average is $219.45 and its 200 day simple moving average is $195.39. International Business Machines Co. has a 1-year low of $153.92 and a 1-year high of $237.37. The firm has a market capitalization of $206.17 billion, a PE ratio of 32.46, a PEG ratio of 4.99 and a beta of 0.71. 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 posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the company posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid 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 dividend yield of 3.00%. 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 International Business Machines 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 owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on IBM. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Morgan Stanley reduced their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Evercore ISI lifted their price objective 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. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com cut shares of 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 issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $208.12.

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.