Kovack Advisors Inc. Increases Stock Position in International Business Machines Co. (NYSE:IBM)

Kovack Advisors Inc. increased its holdings in International Business Machines Co. (NYSE:IBM) by 9.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,187 shares of the technology company’s stock after buying an additional 1,345 shares during the period. Kovack Advisors Inc.’s holdings in International Business Machines were worth $3,358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of IBM. ESL Trust Services LLC bought a new stake in International Business Machines during the first quarter valued at about $28,000. Hazlett Burt & Watson Inc. lifted its position in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC purchased a new position in shares of International Business Machines in the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC boosted its stake in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares in the last quarter. 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 business’s 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 completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $0.03 during midday trading on Wednesday, reaching $210.89. 332,637 shares of the stock were exchanged, compared to its average volume of 4,215,381. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a 50-day simple moving average of $218.44 and a two-hundred day simple moving average of $192.98. International Business Machines Co. has a twelve month low of $149.05 and a twelve month high of $237.37. The firm has a market cap of $195.00 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 4.80 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend payout ratio (DPR) is presently 97.23%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IBM. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group boosted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.