River Global Investors LLP Has $1.54 Million Holdings in International Business Machines Co. (NYSE:IBM)

10 Nov 2024, 19:58 by Tristan Rich · The Markets Daily

River Global Investors LLP increased its position in International Business Machines Co. (NYSE:IBM – Free Report) by 4.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,975 shares of the technology company’s stock after purchasing an additional 322 shares during the period. River Global Investors LLP’s holdings in International Business Machines were worth $1,542,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in International Business Machines by 10.6% during the 1st quarter. Sei Investments Co. now owns 211,017 shares of the technology company’s stock valued at $40,294,000 after acquiring an additional 20,142 shares in the last quarter. Choate Investment Advisors grew its position in International Business Machines by 4.8% during the first quarter. Choate Investment Advisors now owns 11,680 shares of the technology company’s stock valued at $2,230,000 after purchasing an additional 536 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in International Business Machines by 8.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 11,215 shares of the technology company’s stock valued at $2,142,000 after buying an additional 870 shares during the period. Verus Capital Partners LLC lifted its position in International Business Machines by 15.5% in the 1st quarter. Verus Capital Partners LLC now owns 3,540 shares of the technology company’s stock worth $676,000 after buying an additional 476 shares in the last quarter. Finally, Donoghue Forlines LLC boosted its stake in shares of International Business Machines by 119.7% during the 1st quarter. Donoghue Forlines LLC now owns 16,791 shares of the technology company’s stock valued at $3,206,000 after buying an additional 9,149 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group increased their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $208.12.

Read Our Latest Stock Analysis on International Business Machines

International Business Machines Stock Performance

NYSE:IBM traded up $0.03 during mid-day trading on Friday, hitting $213.72. 3,201,038 shares of the company’s stock traded hands, compared to its average volume of 4,595,376. The firm has a market capitalization of $197.62 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71. The firm has a 50 day moving average of $218.02 and a two-hundred day moving average of $192.24. 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 Co. has a 12 month low of $145.28 and a 12 month high of $237.37.

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, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 earnings per share. On average, equities analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business 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 dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity at International Business Machines

In related 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 transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is owned by corporate insiders.

International Business Machines 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.