3,566 Shares of International Business Machines Corporation $IBM Bought by Reliant Investment Management LLC

Reliant Investment Management LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,566 shares of the technology company’s stock, valued at approximately $784,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Fortitude Family Office LLC increased its stake in shares of International Business Machines by 71.6% during the third quarter. Fortitude Family Office LLC now owns 1,443 shares of the technology company’s stock worth $317,000 after buying an additional 602 shares during the period. Godsey & Gibb Inc. raised its holdings in International Business Machines by 0.5% in the third quarter. Godsey & Gibb Inc. now owns 103,019 shares of the technology company’s stock valued at $22,657,000 after acquiring an additional 545 shares in the last quarter. Weil Company Inc. raised its holdings in International Business Machines by 2.8% in the third quarter. Weil Company Inc. now owns 3,504 shares of the technology company’s stock valued at $771,000 after acquiring an additional 97 shares in the last quarter. Essex LLC lifted its stake in International Business Machines by 9.7% in the third quarter. Essex LLC now owns 10,740 shares of the technology company’s stock worth $2,362,000 after acquiring an additional 952 shares during the last quarter. Finally, Triumph Capital Management lifted its stake in International Business Machines by 11.1% in the third quarter. Triumph Capital Management now owns 6,046 shares of the technology company’s stock worth $1,330,000 after acquiring an additional 602 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $228.40 on Thursday. The company has a market capitalization of $215.18 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 2.20 and a beta of 0.73. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The stock has a 50 day moving average price of $232.07 and a 200 day moving average price of $243.68.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter last year, the company earned $2.80 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts predict that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, August 10th. International Business Machines’s dividend payout ratio (DPR) is 59.98%.

Insider Activity at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the transaction, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on IBM shares. The Goldman Sachs Group set a $270.00 price target on shares of International Business Machines and gave the stock a “buy” rating in a report on Thursday, July 23rd. Jefferies Financial Group dropped their price objective on shares of International Business Machines from $320.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Sanford C. Bernstein reduced their price objective on shares of International Business Machines from $280.00 to $230.00 and set a “market perform” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings cut shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Finally, Daiwa Securities Group decreased their price objective on shares of International Business Machines from $247.00 to $217.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $252.96.

International Business Machines News Roundup

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Siemens nanostack collaboration supports IBM’s semiconductor strategy. IBM and Siemens announced research to advance IBM’s nanostack transistor architecture, combining IBM’s device expertise with Siemens’ electronic-design and manufacturing software capabilities. The effort could strengthen IBM’s longer-term semiconductor innovation, although it is unlikely to materially affect near-term earnings. IBM and Siemens Collaborate on Research to Advance Nanostack Architecture
• Positive Sentiment: RBC reaffirmed an Outperform rating and a $270 price target. The target implies meaningful upside from recent trading levels and signals that the bank views IBM’s valuation and growth prospects favorably despite recent weakness.
• Positive Sentiment: IBM remains active in quantum computing. IBM advanced to Stage C of DARPA’s Quantum Benchmarking Initiative, reinforcing its position in a potentially important long-term technology market. Revenue benefits remain uncertain and likely distant. DARPA Just Revealed the 2 Best Quantum Computing Stocks to Buy Now

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.