Public Sector Pension Investment Board Purchases 4,900 Shares of International Business Machines Co. (NYSE:IBM)

Public Sector Pension Investment Board lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 13.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,396 shares of the technology company’s stock after buying an additional 4,900 shares during the quarter. Public Sector Pension Investment Board’s holdings in International Business Machines were worth $8,931,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in International Business Machines by 75.5% in the first quarter. EverSource Wealth Advisors LLC now owns 2,405 shares of the technology company’s stock worth $459,000 after purchasing an additional 1,035 shares in the last quarter. GAMMA Investing LLC raised its position in International Business Machines by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock worth $1,621,000 after buying an additional 2,788 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in International Business Machines by 23.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 8,093 shares of the technology company’s stock valued at $1,400,000 after purchasing an additional 1,513 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in shares of International Business Machines by 2.5% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,094 shares of the technology company’s stock valued at $2,432,000 after buying an additional 365 shares during the period. Finally, Marcum Wealth LLC lifted its holdings in International Business Machines by 0.8% in the second quarter. Marcum Wealth LLC now owns 9,013 shares of the technology company’s stock valued at $1,559,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $227.41 on Friday. The stock has a market cap of $210.27 billion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 5.09 and a beta of 0.71. 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 firm has a 50 day simple moving average of $220.63 and a 200-day simple moving average of $197.27. International Business Machines Co. has a 1-year low of $156.89 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced 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 of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.94%. International Business Machines’s payout ratio is currently 97.23%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. UBS Group upped their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Morgan Stanley reduced their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Finally, Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.

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.