NEOS Investment Management LLC Purchases 38,973 Shares of International Business Machines Corporation $IBM

NEOS Investment Management LLC lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 51.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 114,395 shares of the technology company’s stock after acquiring an additional 38,973 shares during the quarter. NEOS Investment Management LLC’s holdings in International Business Machines were worth $32,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Winnow Wealth LLC purchased a new stake in shares of International Business Machines during the 2nd quarter valued at $27,000. Mountain Hill Investment Partners Corp. bought a new position in International Business Machines during the third quarter valued at about $28,000. Trifecta Capital Advisors LLC grew its position in International Business Machines by 129.1% during the third quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock valued at $36,000 after buying an additional 71 shares during the period. Legacy Wealth Managment LLC ID increased its holdings in International Business Machines by 48.5% during the second quarter. Legacy Wealth Managment LLC ID now owns 147 shares of the technology company’s stock worth $43,000 after buying an additional 48 shares during the last quarter. Finally, Davis Capital Management bought a new stake in International Business Machines in the third quarter worth about $54,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. Wedbush increased their target price on shares of International Business Machines from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Stifel Nicolaus upped their price objective on International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Bank of America raised their target price on International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Morgan Stanley set a $304.00 target price on International Business Machines in a research note on Thursday, January 29th. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $330.07.

Insider Buying and Selling

In other news, Director David N. Farr bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were acquired at an average price of $304.00 per share, with a total value of $304,000.00. Following the acquisition, the director owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. The trade was a 12.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

International Business Machines stock opened at $262.33 on Tuesday. The firm has a market capitalization of $245.21 billion, a P/E ratio of 23.53, a PEG ratio of 2.63 and a beta of 0.69. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. The business has a fifty day moving average price of $298.30 and a 200-day moving average price of $284.26.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.19. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The company had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. During the same period in the previous year, the company posted $3.92 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 60.27%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.