RIA Advisory Group LLC Invests $5.64 Million in International Business Machines Co. (NYSE:IBM)

RIA Advisory Group LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,504 shares of the technology company’s stock, valued at approximately $5,638,000. International Business Machines comprises about 2.0% of RIA Advisory Group LLC’s investment portfolio, making the stock its 8th largest holding.

Several other large investors have also recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after acquiring an additional 330,694 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after purchasing an additional 304,390 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 valued at $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM traded down $4.00 during trading on Friday, reaching $204.99. The stock had a trading volume of 3,986,460 shares, compared to its average volume of 4,237,182. The stock has a market cap of $189.54 billion, a PE ratio of 29.84, a PEG ratio of 4.74 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 one year low of $152.13 and a one year high of $237.37. The business has a 50-day moving average of $218.79 and a 200-day moving average of $193.48.

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. The company 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%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.26%. International Business Machines’s payout ratio is 97.23%.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent research reports. Morgan Stanley cut their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, UBS Group lifted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $208.12.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.07% of the stock is owned by company 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.