International Business Machines Co. (NYSE:IBM) Shares Acquired by Jaffetilchin Investment Partners LLC

11 Nov 2024, 21:30 by Danessa Lincoln · The Markets Daily

Jaffetilchin Investment Partners LLC lifted its stake in International Business Machines Co. (NYSE:IBM – Free Report) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,616 shares of the technology company’s stock after acquiring an additional 1,531 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in International Business Machines were worth $3,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM opened at $214.42 on Monday. The company has a market capitalization of $198.26 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a one year low of $147.35 and a one year high of $237.37. The company’s fifty day moving average price is $218.02 and its 200 day moving average price is $192.36.

International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts expect that International Business Machines Co. will post 10.11 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. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.12%. International Business Machines’s dividend payout ratio is 97.23%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IBM. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Evercore ISI lifted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price objective 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. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $208.12.

Get Our Latest Stock Report on International Business Machines

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.

About International Business Machines

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