Metis Global Partners LLC Purchases 2,743 Shares of International Business Machines Co. (NYSE:IBM)

Metis Global Partners LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,482 shares of the technology company’s stock after purchasing an additional 2,743 shares during the period. Metis Global Partners LLC’s holdings in International Business Machines were worth $13,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines during the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines during the 3rd quarter valued at $5,117,000. Focused Wealth Management Inc raised its stake in shares of International Business Machines by 52.2% during the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of International Business Machines by 4.5% in the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after buying an additional 6,004 shares during the last quarter. Finally, F M Investments LLC grew its position in International Business Machines by 39.6% during the third quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock valued at $13,696,000 after buying an additional 17,554 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IBM shares. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley cut their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

NYSE:IBM opened at $210.80 on Thursday. The firm has a market capitalization of $194.92 billion, a price-to-earnings ratio of 30.70, a P/E/G ratio of 4.74 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52-week low of $150.40 and a 52-week high of $237.37. The stock has a fifty day moving average of $218.58 and a 200 day moving average of $193.11.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results 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. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts expect that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

About International Business Machines

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.