54,883 Shares in International Business Machines Corporation $IBM Bought by Private Advisory Group LLC

Key Points

• Private Advisory Group LLC opened a new IBM position, acquiring 54,883 shares worth approximately $12.07 million in the third quarter. Institutional investors collectively own 58.96% of the company’s stock.
• Analysts rate IBM a consensus “Moderate Buy,” with an average price target of $266.88; 19 analysts recommend Buy, 13 Hold, and two Sell.
• IBM reported quarterly EPS of $2.95, beating estimates of $2.85, while revenue rose 4.7% year over year to $17.10 billion. The company also announced a quarterly dividend of $1.69 per share.

Private Advisory Group LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 54,883 shares of the technology company's stock, valued at approximately $12,070,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in International Business Machines during the second quarter worth $21,586,659,000. State Street Corp raised its holdings in shares of International Business Machines by 2.7% in the second quarter. State Street Corp now owns 56,045,055 shares of the technology company's stock worth $15,760,430,000 after acquiring an additional 1,450,562 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of International Business Machines in the second quarter valued at $4,214,868,000. Bank of New York Mellon Corp purchased a new stake in shares of International Business Machines in the second quarter valued at $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of International Business Machines by 0.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company's stock valued at $2,143,245,000 after acquiring an additional 53,388 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IBM shares. Yorkville Ives began coverage on International Business Machines in a research note on Monday, October 5th. They set an "outperform" rating and a $275.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $250.00 to $269.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Evercore restated an "outperform" rating on shares of International Business Machines in a report on Friday, November 6th. Susquehanna set a $275.00 price target on shares of International Business Machines in a research note on Friday, November 6th. Finally, Sanford C. Bernstein decreased their price target on shares of International Business Machines from $280.00 to $230.00 and set a "market perform" rating on the stock in a research note on Thursday, July 23rd. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $266.88.

International Business Machines News Roundup

These are some of the IBM news items that stood out recently:

• Positive Sentiment: IBM acquired cybersecurity company AuthMind, adding to its push in security. The report provides no deal terms, so the near-term financial impact is unclear. IBM acquires AuthMind
• Positive Sentiment: Partner LTM made its AI-powered quantum error-mitigation capability available through IBM’s Quantum Functions Catalog, expanding the platform’s tools and partner ecosystem. LTM quantum error mitigation announcement
• Neutral Sentiment: IBM’s new digital-sovereignty index found widespread difficulty among enterprises in proving control over data and AI systems. This may highlight demand for IBM’s consulting and technology solutions, but also underscores customer risks as AI adoption and regulation grow. IBM Digital Sovereignty Index

Insider Transactions at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the business's 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 sale, the senior vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company's stock.

International Business Machines Stock Down 1.3%

Shares of NYSE:IBM opened at $244.91 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 1.57. The firm has a market cap of $231.47 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.44 and a beta of 0.78. The stock's 50-day moving average price is $237.80 and its two-hundred day moving average price is $247.66. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.10. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $16.82 billion. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The company's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.65 EPS. On average, research analysts forecast that International Business Machines Corporation will post 12.42 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be given a $1.69 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.8%. International Business Machines's dividend payout ratio (DPR) is currently 57.63%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers. IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.

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