International Business Machines Co. (NYSE:IBM) Shares Acquired by First Interstate Bank

First Interstate Bank grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 46.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,627 shares of the technology company’s stock after acquiring an additional 839 shares during the quarter. First Interstate Bank’s holdings in International Business Machines were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FPC Investment Advisory Inc. purchased a new stake in International Business Machines in the first quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the second quarter worth $36,000. Wolff Wiese Magana LLC lifted 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 valued at $38,000 after purchasing an additional 60 shares during the period. Finally, Briaud Financial Planning Inc boosted its stake in shares of International Business Machines by 54.3% in the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $1.53 during midday trading on Friday, hitting $208.25. The company had a trading volume of 3,334,308 shares, compared to its average volume of 4,270,505. The business’s 50-day simple moving average is $216.84 and its 200-day simple moving average is $191.24. The stock has a market cap of $191.83 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 4.28 and a beta of 0.70. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a twelve month low of $144.84 and a twelve month high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm 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 $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.21%. International Business Machines’s payout ratio is 97.23%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBM. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Morgan Stanley decreased their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Finally, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.