Davis R M Inc. Acquires 186 Shares of International Business Machines Co. (NYSE:IBM)

26 Nov 2024, 11:34 by Michael Walen · The Markets Daily

Davis R M Inc. grew its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 2.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,351 shares of the technology company’s stock after purchasing an additional 186 shares during the period. Davis R M Inc.’s holdings in International Business Machines were worth $1,846,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hazlett Burt & Watson Inc. grew its stake in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines in the third quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the second quarter valued at $36,000. Wolff Wiese Magana LLC raised its position in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in International Business Machines in the third quarter valued at $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated 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 in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by insiders.

International Business Machines Trading Up 1.5 %

Shares of International Business Machines stock opened at $226.25 on Tuesday. 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 Co. has a 12-month low of $154.75 and a 12-month high of $237.37. The company has a market capitalization of $209.20 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 5.01 and a beta of 0.71. The firm’s 50-day moving average price is $219.63 and its two-hundred day moving average price is $196.00.

International Business Machines (NYSE:IBM – Get Free Report) last announced 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. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.20 EPS. On average, analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 2.95%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Bernstein Bank lifted their target price 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. Morgan Stanley dropped their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $208.12.

View Our Latest Analysis on International Business Machines

About International Business Machines

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