International Business Machines Corporation $IBM Shares Purchased by Advisors Capital Management LLC

Advisors Capital Management LLC grew its stake in International Business Machines Corporation (NYSE:IBM) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 347,155 shares of the technology company’s stock after buying an additional 12,623 shares during the period. International Business Machines accounts for 1.2% of Advisors Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Advisors Capital Management LLC’s holdings in International Business Machines were worth $97,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC increased its position in International Business Machines by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after buying an additional 186 shares during the period. Lyell Wealth Management LP lifted its stake in International Business Machines by 27.7% in the second quarter. Lyell Wealth Management LP now owns 2,434 shares of the technology company’s stock valued at $717,000 after buying an additional 528 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in shares of International Business Machines by 58.9% in the second quarter. Princeton Global Asset Management LLC now owns 1,244 shares of the technology company’s stock valued at $367,000 after acquiring an additional 461 shares during the period. Finally, WESPAC Advisors SoCal LLC grew its position in shares of International Business Machines by 5.0% during the second quarter. WESPAC Advisors SoCal LLC now owns 7,521 shares of the technology company’s stock worth $2,217,000 after acquiring an additional 359 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $312.00 to $317.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Wedbush raised their price target on International Business Machines from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Stifel Nicolaus boosted their price target on International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Dbs Bank raised International Business Machines from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 19th. Finally, Evercore lifted their target price on International Business Machines from $330.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and a consensus price target of $330.07.

International Business Machines Trading Down 1.6%

Shares of IBM opened at $258.25 on Wednesday. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The stock has a market cap of $241.39 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 2.63 and a beta of 0.69. The firm has a 50 day simple moving average of $297.26 and a 200-day simple moving average of $284.32. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.33 by $0.19. The business had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.92 earnings per share. Equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be issued a $1.68 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $6.72 annualized dividend and a yield of 2.6%. International Business Machines’s payout ratio is 60.27%.

Insiders Place Their Bets

In other International Business Machines news, Director David N. Farr purchased 1,000 shares of the stock in a transaction on Friday, January 30th. The stock was bought at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director directly owned 9,258 shares of the company’s stock, valued at $2,814,432. This represents a 12.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

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.