SevenBridge Financial Group LLC Has $3.75 Million Holdings in International Business Machines Co. (NYSE:IBM)

SevenBridge Financial Group LLC boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 3.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,561 shares of the technology company’s stock after buying an additional 585 shares during the period. SevenBridge Financial Group LLC’s holdings in International Business Machines were worth $3,750,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. boosted its stake in International Business Machines by 1,054.5% in 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 in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines in the third quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $36,000. Wolff Wiese Magana LLC grew its holdings in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in International Business Machines during the 3rd quarter worth approximately $43,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on IBM. Bernstein Bank raised their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Jefferies Financial Group increased their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, DZ Bank lowered 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. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Up 0.3 %

Shares of NYSE IBM opened at $222.97 on Friday. International Business Machines Co. has a 52-week low of $153.92 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 company’s 50 day moving average price is $219.45 and its 200-day moving average price is $195.39. The company has a market capitalization of $206.17 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results 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 business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. 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 is currently 97.23%.

Insiders Place Their Bets

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 transaction 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 represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines 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.