CBOE Vest Financial LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70,797 shares of the technology company’s stock after purchasing an additional 2,530 shares during the period. International Business Machines accounts for approximately 1.6% of CBOE Vest Financial LLC’s investment portfolio, making the stock its 26th biggest position. CBOE Vest Financial LLC’s holdings in International Business Machines were worth $8,411,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gilbert & Cook Inc. increased its position in International Business Machines by 2.4% during the 3rd quarter. Gilbert & Cook Inc. now owns 3,245 shares of the technology company’s stock valued at $444,000 after purchasing an additional 76 shares during the period. First PREMIER Bank raised its stake in International Business Machines by 5.6% in the third quarter. First PREMIER Bank now owns 1,510 shares of the technology company’s stock worth $179,000 after buying an additional 80 shares in the last quarter. Argyle Capital Management Inc. lifted its holdings in International Business Machines by 0.3% in the third quarter. Argyle Capital Management Inc. now owns 27,227 shares of the technology company’s stock worth $3,235,000 after buying an additional 80 shares during the period. Bedel Financial Consulting Inc. boosted its position in International Business Machines by 2.4% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 3,541 shares of the technology company’s stock valued at $500,000 after acquiring an additional 82 shares in the last quarter. Finally, Focused Wealth Management Inc grew its holdings in shares of International Business Machines by 0.8% during the 2nd quarter. Focused Wealth Management Inc now owns 10,182 shares of the technology company’s stock worth $1,438,000 after acquiring an additional 83 shares during the period. 55.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. BMO Capital Markets lifted their price target on International Business Machines from $148.00 to $155.00 and gave the company a “market perform” rating in a research report on Thursday, January 26th. Moffett Nathanson raised shares of International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 target price on the stock in a research report on Tuesday, January 24th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $140.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, January 23rd. Evercore ISI raised their target price on shares of International Business Machines from $135.00 to $150.00 in a research note on Tuesday, January 17th. Finally, Morgan Stanley dropped their price target on International Business Machines from $148.00 to $143.00 in a research report on Thursday, January 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $142.73.
Insider Transactions at International Business Machines
In other International Business Machines news, VP Bene Robert F. Del sold 3,000 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.36, for a total value of $445,080.00. Following the transaction, the vice president now owns 14,553 shares of the company’s stock, valued at $2,159,083.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.
International Business Machines Trading Up 0.0 %
Shares of NYSE:IBM opened at $135.02 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.92 and a quick ratio of 0.87. International Business Machines Co. has a 1 year low of $115.54 and a 1 year high of $153.21. The company has a market cap of $122.08 billion, a P/E ratio of 76.72, a PEG ratio of 3.49 and a beta of 0.85. The stock’s fifty day moving average price is $140.40 and its 200-day moving average price is $135.85.
International Business Machines (NYSE:IBM – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The technology company reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.61 by ($0.01). International Business Machines had a net margin of 2.71% and a return on equity of 41.24%. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.38 billion. During the same period in the previous year, the business earned $3.35 EPS. The business’s revenue was up .0% compared to the same quarter last year. Sell-side analysts expect that International Business Machines Co. will post 9.46 earnings per share for the current year.
International Business Machines Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 10th will be issued a dividend of $1.65 per share. The ex-dividend date is Thursday, February 9th. This represents a $6.60 annualized dividend and a dividend yield of 4.89%. International Business Machines’s payout ratio is 375.00%.
About International Business Machines
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other. The Software segment combines hybrid cloud platform and software solutions to help clients become more data-driven, and to automate, secure and modernize their environments.
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