RPG Investment Advisory LLC Increases Stake in International Business Machines Co. (NYSE:IBM)

13 Nov 2024, 14:26 by Tristan Rich · The Markets Daily

RPG Investment Advisory LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 61,065 shares of the technology company’s stock after buying an additional 788 shares during the period. International Business Machines comprises about 1.9% of RPG Investment Advisory LLC’s holdings, making the stock its 19th largest position. RPG Investment Advisory LLC’s holdings in International Business Machines were worth $13,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aptus Capital Advisors LLC increased its position in shares of International Business Machines by 89.7% during the third quarter. Aptus Capital Advisors LLC now owns 15,006 shares of the technology company’s stock valued at $3,318,000 after buying an additional 7,095 shares during the period. Commonwealth Retirement Investments LLC increased its position in shares of International Business Machines by 7.4% during the third quarter. Commonwealth Retirement Investments LLC now owns 15,861 shares of the technology company’s stock valued at $3,507,000 after buying an additional 1,091 shares during the period. Cumberland Partners Ltd increased its position in shares of International Business Machines by 16.1% during the third quarter. Cumberland Partners Ltd now owns 7,430 shares of the technology company’s stock valued at $1,643,000 after buying an additional 1,030 shares during the period. Total Investment Management Inc. purchased a new position in shares of International Business Machines during the third quarter valued at about $208,000. Finally, Savvy Advisors Inc. increased its position in shares of International Business Machines by 261.4% during the third quarter. Savvy Advisors Inc. now owns 14,036 shares of the technology company’s stock valued at $3,103,000 after buying an additional 10,152 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Morgan Stanley cut their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $208.12.

Get Our Latest Research Report on International Business Machines

International Business Machines Stock Down 1.2 %

Shares of International Business Machines stock opened at $210.93 on Wednesday. The company has a market cap of $195.04 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71. The company’s 50 day moving average is $218.25 and its 200 day moving average is $192.68. International Business Machines Co. has a twelve month low of $147.35 and a twelve month high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 earnings per share. 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. Shareholders of record on Tuesday, November 12th will be issued 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 yield of 3.17%. International Business Machines’s dividend payout ratio is currently 97.23%.

International Business Machines Profile

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