Citizens Financial Group Inc. RI Purchases 302 Shares of International Business Machines Co. (NYSE:IBM)

Citizens Financial Group Inc. RI lifted its holdings in International Business Machines Co. (NYSE:IBM) by 2.1% during the third quarter, HoldingsChannel reports. The firm owned 14,815 shares of the technology company’s stock after purchasing an additional 302 shares during the period. Citizens Financial Group Inc. RI’s holdings in International Business Machines were worth $3,275,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. International Assets Investment Management LLC grew its stake in shares of International Business Machines by 20,324.5% in 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 acquiring an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC raised its position in shares of International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of International Business Machines by 103.1% in the third quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after buying an additional 449,912 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $222.30 on Friday. The business has a fifty day moving average of $219.29 and a 200-day moving average of $194.83. The firm has a market cap of $205.55 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 4.72 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 twelve month low of $153.92 and a twelve month high of $237.37.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping 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 the consensus estimate of $15.08 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

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. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.01%. International Business Machines’s payout ratio is 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several recent research reports. 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 report on Thursday, October 24th. UBS Group upped their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. 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. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has a consensus 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.