3,566 Shares of International Business Machines Corporation $IBM Purchased by Reliant Investment Management LLC

Reliant Investment Management LLC bought a new stake in International Business Machines Corporation (NYSE:IBM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,566 shares of the technology company’s stock, valued at approximately $784,000.

Other hedge funds also recently bought and sold shares of the company. Portus Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the first quarter valued at about $26,000. Harborfront Financial Group LLC purchased a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $27,000. Hara Capital LLC acquired a new position in shares of International Business Machines in the 2nd quarter worth approximately $28,000. Bare Financial Services Inc lifted its holdings in shares of International Business Machines by 114.6% in the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company’s stock worth $29,000 after acquiring an additional 55 shares during the last quarter. Finally, Caitlin John LLC acquired a new position in shares of International Business Machines in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $228.40 on Thursday. The company has a market cap of $215.18 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.20 and a beta of 0.73. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. The stock has a 50-day moving average of $232.07 and a two-hundred day moving average of $243.68. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.93. The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 earnings per share. As a group, analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were paid a $1.69 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 3.0%. International Business Machines’s dividend payout ratio (DPR) is presently 59.98%.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the transaction, the senior vice president owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IBM shares. BMO Capital Markets lowered their price objective on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a research report on Thursday, July 23rd. Piper Sandler raised International Business Machines to an “overweight” rating in a research report on Tuesday, June 23rd. Wolfe Research lowered International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. Stifel Nicolaus decreased their price target on International Business Machines from $290.00 to $235.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Finally, Truist Financial initiated coverage on International Business Machines in a research note on Friday, October 9th. They set a “hold” rating and a $240.00 price target on the stock. Eighteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $252.96.

Trending Headlines about International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Siemens nanostack collaboration supports IBM’s semiconductor strategy. IBM and Siemens announced research to advance IBM’s nanostack transistor architecture, combining IBM’s device expertise with Siemens’ electronic-design and manufacturing software capabilities. The effort could strengthen IBM’s longer-term semiconductor innovation, although it is unlikely to materially affect near-term earnings. IBM and Siemens Collaborate on Research to Advance Nanostack Architecture
• Positive Sentiment: RBC reaffirmed an Outperform rating and a $270 price target. The target implies meaningful upside from recent trading levels and signals that the bank views IBM’s valuation and growth prospects favorably despite recent weakness.
• Positive Sentiment: IBM remains active in quantum computing. IBM advanced to Stage C of DARPA’s Quantum Benchmarking Initiative, reinforcing its position in a potentially important long-term technology market. Revenue benefits remain uncertain and likely distant. DARPA Just Revealed the 2 Best Quantum Computing Stocks to Buy Now

About International Business Machines

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.