Safe Harbor Fiduciary LLC Makes New $774,000 Investment in International Business Machines Co. (NYSE:IBM)

Safe Harbor Fiduciary LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,500 shares of the technology company’s stock, valued at approximately $774,000. International Business Machines comprises 0.7% of Safe Harbor Fiduciary LLC’s investment portfolio, making the stock its 28th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of International Business Machines by 4.1% during 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 last quarter. Ameriprise Financial Inc. raised its stake in 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 last quarter. FMR LLC boosted its holdings in International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 during the last quarter. Finally, Swiss National Bank increased its holdings in shares of International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

IBM opened at $233.59 on Thursday. The stock has a market cap of $215.99 billion, a P/E ratio of 34.00, a P/E/G ratio of 5.14 and a beta of 0.73. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a fifty day moving average price of $221.17 and a 200 day moving average price of $198.76. International Business Machines Co. has a 1 year low of $157.88 and a 1 year high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

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 issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Analyst Ratings Changes

Several research firms have weighed in on IBM. BMO Capital Markets boosted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Stifel Nicolaus boosted their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Three 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 stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target 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.