International Business Machines Co. (NYSE:IBM) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its stake in International Business Machines Co. (NYSE:IBM) by 40.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 572 shares of the technology company’s stock after buying an additional 166 shares during the quarter. Meeder Asset Management Inc.’s holdings in International Business Machines were worth $126,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Hazlett Burt & Watson Inc. raised its holdings in International Business Machines by 1,054.5% during the 3rd 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 period. Hara Capital LLC acquired a new stake in International Business Machines during the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC raised its holdings in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in International Business Machines during the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 2.1 %

NYSE IBM opened at $214.61 on Thursday. The company has a market cap of $198.44 billion, a PE ratio of 31.24, a PEG ratio of 4.60 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $153.51 and a 12 month high of $237.37. The stock has a 50 day moving average of $219.07 and a 200-day moving average of $194.64.

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

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Morgan Stanley reduced their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, BMO Capital Markets boosted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $208.12.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.