Massachusetts Financial Services Co. MA Boosts Position in International Business Machines Co. (NYSE:IBM)

Massachusetts Financial Services Co. MA lifted its position in International Business Machines Co. (NYSE:IBM) by 23.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,529 shares of the technology company’s stock after buying an additional 18,340 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in International Business Machines were worth $21,120,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IBM. Meeder Asset Management Inc. raised its holdings in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines in the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC bought a new stake in International Business Machines during the third quarter valued at approximately $5,117,000. Aljian Capital Management LLC purchased a new position in International Business Machines in the 3rd quarter worth approximately $611,000. Finally, Focused Wealth Management Inc increased its holdings in shares of International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after buying an additional 3,887 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

International Business Machines stock opened at $226.25 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $209.20 billion, a P/E ratio of 32.93, a P/E/G ratio of 5.01 and a beta of 0.71. International Business Machines Co. has a 1-year low of $154.75 and a 1-year high of $237.37. The firm has a 50-day moving average of $219.63 and a 200-day moving average of $196.00.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.95%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IBM shares. The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group upped their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

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.