Sanders Morris Harris LLC Invests $201,000 in International Business Machines Co. (NYSE:IBM)

Sanders Morris Harris LLC acquired a new stake in International Business Machines Co. (NYSE:IBM) in the fourth quarter, HoldingsChannel reports. The firm acquired 900 shares of the technology company’s stock, valued at approximately $201,000.

Several other hedge funds have also added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its holdings in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of International Business Machines in the second quarter valued at about $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines in the third quarter worth approximately $5,117,000. Nordea Investment Management AB increased its position in International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in shares of International Business Machines in the 3rd quarter worth approximately $24,761,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IBM has been the subject of several recent analyst reports. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Sanford C. Bernstein boosted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley raised their target price on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $215.81.

International Business Machines Stock Down 0.6 %

Shares of IBM stock traded down $1.32 during trading hours on Thursday, reaching $218.71. The company had a trading volume of 128,986 shares, compared to its average volume of 2,896,757. The company has a market cap of $202.23 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74. 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 12 month low of $162.62 and a 12 month high of $239.35. The business has a fifty day simple moving average of $222.34 and a 200-day simple moving average of $210.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating 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 analysts’ expectations of $15.08 billion. During the same period last year, the business earned $2.20 EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, research analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 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.