Grimes & Company Inc. Boosts Holdings in International Business Machines Co. (NYSE:IBM)

Grimes & Company Inc. increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,988 shares of the technology company’s stock after buying an additional 65 shares during the period. Grimes & Company Inc.’s holdings in International Business Machines were worth $3,515,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the period. Holocene Advisors LP bought a new position in International Business Machines during the third quarter worth about $573,306,000. State Street Corp boosted its position in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. Eagle Asset Management Inc. boosted its position in International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after purchasing an additional 536,785 shares during the period. Finally, KBC Group NV boosted its position in International Business Machines by 103.1% during the third quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock worth $195,948,000 after purchasing an additional 449,912 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.

International Business Machines Trading Down 0.6 %

Shares of International Business Machines stock opened at $224.69 on Friday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a fifty day moving average price of $224.33 and a 200 day moving average price of $212.32. The stock has a market cap of $207.75 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the company earned $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.97%. International Business Machines’s dividend payout ratio is currently 97.23%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBM. BMO Capital Markets raised their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Jefferies Financial Group lifted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $220.73.

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.