3,732 Shares in International Business Machines Co. (NYSE:IBM) Bought by OneAscent Financial Services LLC

OneAscent Financial Services LLC purchased a new position in International Business Machines Co. (NYSE:IBM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,732 shares of the technology company’s stock, valued at approximately $825,000.

Other institutional investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. lifted its position 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 worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in International Business Machines in the third quarter worth $29,000. Capital Performance Advisors LLP purchased a new stake in International Business Machines in the third quarter worth $43,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the second quarter worth $36,000. Finally, Wolff Wiese Magana LLC increased its stake in 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 purchasing an additional 60 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $208.09 on Tuesday. The business’s 50 day moving average price is $218.88 and its 200 day moving average price is $194.18. The firm has a market cap of $192.41 billion, a P/E ratio of 30.29, a P/E/G ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 52 week low of $152.35 and a 52 week high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last issued its earnings results 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 analyst estimates 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 revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 earnings per share. On average, sell-side analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business 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 of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.21%. International Business Machines’s dividend payout ratio is presently 97.23%.

Analyst Ratings Changes

IBM has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Jefferies Financial Group raised 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 raised their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Morgan Stanley cut their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average target price of $208.12.

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.