Waddell & Associates LLC Raises Holdings in International Business Machines Co. (NYSE:IBM)

Waddell & Associates LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.4% in the third quarter, Holdings Channel reports. The institutional investor owned 4,461 shares of the technology company’s stock after acquiring an additional 309 shares during the period. Waddell & Associates LLC’s holdings in International Business Machines were worth $986,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hazlett Burt & Watson Inc. raised its position in 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 acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $29,000. Capital Performance Advisors LLP purchased a new stake in International Business Machines during the third quarter worth $43,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the second quarter valued at $36,000. Finally, Wolff Wiese Magana LLC raised its position in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $223.02 on Friday. 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 company has a market capitalization of $206.21 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71. The firm’s 50-day moving average is $219.45 and its two-hundred day moving average is $195.21. International Business Machines Co. has a 12 month low of $153.92 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm 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 earnings per share. Analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.00%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IBM shares. BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Evercore ISI lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Bernstein Bank increased their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Jefferies Financial Group raised their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $208.12.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by insiders.

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.