Commonwealth Retirement Investments LLC Acquires 1,091 Shares of International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

Commonwealth Retirement Investments LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 7.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,861 shares of the technology company’s stock after purchasing an additional 1,091 shares during the period. International Business Machines accounts for 1.5% of Commonwealth Retirement Investments LLC’s portfolio, making the stock its 19th largest position. Commonwealth Retirement Investments LLC’s holdings in International Business Machines were worth $3,507,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in IBM. Ellenbecker Investment Group raised its stake in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares in the last quarter. Goldstein Advisors LLC raised its holdings in International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 47 shares in the last quarter. Sollinda Capital Management LLC grew its position in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after buying an additional 49 shares during the last quarter. Lansing Street Advisors grew its holdings in International Business Machines by 3.4% in the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after purchasing an additional 49 shares during the last quarter. Finally, Ascent Wealth Partners LLC increased its position in International Business Machines by 0.7% during the 3rd quarter. Ascent Wealth Partners LLC now owns 7,144 shares of the technology company’s stock valued at $1,579,000 after buying an additional 49 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI increased their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $208.12.

Get Our Latest Stock Report on IBM

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

International Business Machines Stock Down 1.8 %

Shares of IBM stock traded down $3.80 during trading on Tuesday, reaching $209.77. The company’s stock had a trading volume of 428,177 shares, compared to its average volume of 4,222,197. The company has a market capitalization of $193.96 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a 1-year low of $147.35 and a 1-year high of $237.37. 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 stock’s 50-day moving average price is $218.25 and its 200 day moving average price is $192.68.

International Business Machines (NYSE:IBM – Get Free Report) last released 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. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.18%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

International Business Machines Company Profile

(Free Report)

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.

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