Prospera Financial Services Inc Buys 6,009 Shares of International Business Machines Co. (NYSE:IBM)

Prospera Financial Services Inc lifted its position in International Business Machines Co. (NYSE:IBM) by 8.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 78,592 shares of the technology company’s stock after acquiring an additional 6,009 shares during the quarter. Prospera Financial Services Inc’s holdings in International Business Machines were worth $17,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Verity & Verity LLC lifted its holdings in International Business Machines by 0.8% during the third quarter. Verity & Verity LLC now owns 102,867 shares of the technology company’s stock worth $22,742,000 after acquiring an additional 793 shares during the period. Meeder Asset Management Inc. lifted its position in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares during the last quarter. OneAscent Financial Services LLC bought a new position in International Business Machines during the third quarter worth about $825,000. Chesapeake Wealth Management grew its holdings in International Business Machines by 8.2% during the 3rd quarter. Chesapeake Wealth Management now owns 2,363 shares of the technology company’s stock valued at $522,000 after buying an additional 179 shares in the last quarter. Finally, Vertex Planning Partners LLC grew its stake in International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.5 %

Shares of International Business Machines stock opened at $208.09 on Tuesday. The company has a 50-day simple moving average of $218.88 and a two-hundred day simple moving average of $194.18. International Business Machines Co. has a 52-week low of $152.35 and a 52-week high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a market capitalization of $192.41 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 4.60 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 (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 EPS. On average, analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. BMO Capital Markets increased their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $208.12.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction 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 $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.

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.