International Business Machines Corporation $IBM Stock Purchased by CapWealth Advisors LLC

Key Points

• CapWealth Advisors increased its IBM stake by 4.4% in the third quarter, owning 129,803 shares valued at approximately $28.5 million. Institutional investors and hedge funds collectively own 58.96% of IBM.
• IBM reported quarterly earnings of $2.93 per share, in line with estimates, while revenue rose 1.1% year over year to $17.16 billion but fell short of consensus expectations.
• IBM shares recently traded at $221.37, below their 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with an average price target of $253.52, while IBM’s quarterly dividend implies a 3.1% yield.

CapWealth Advisors LLC raised its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,803 shares of the technology company's stock after purchasing an additional 5,441 shares during the quarter. International Business Machines accounts for 2.2% of CapWealth Advisors LLC's portfolio, making the stock its 17th largest position. CapWealth Advisors LLC's holdings in International Business Machines were worth $28,548,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Assetmark Inc. lifted its stake in International Business Machines by 24.8% in the first quarter. Assetmark Inc. now owns 64,458 shares of the technology company's stock valued at $15,624,000 after buying an additional 12,791 shares during the last quarter. Flputnam Investment Management Co. acquired a new stake in shares of International Business Machines in the 2nd quarter worth about $15,237,000. Beacon Investment Advisory Services Inc. increased its holdings in shares of International Business Machines by 939.4% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 30,495 shares of the technology company's stock worth $8,575,000 after acquiring an additional 27,561 shares during the period. St. Louis Financial Planners Asset Management LLC lifted its position in International Business Machines by 34.6% in the 2nd quarter. St. Louis Financial Planners Asset Management LLC now owns 14,234 shares of the technology company's stock valued at $4,121,000 after purchasing an additional 3,659 shares during the last quarter. Finally, Evercore Wealth Management LLC boosted its stake in International Business Machines by 9.0% during the 1st quarter. Evercore Wealth Management LLC now owns 62,801 shares of the technology company's stock valued at $15,222,000 after purchasing an additional 5,196 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM stock traded down $1.27 during trading hours on Monday, hitting $221.37. 1,334,388 shares of the stock traded hands, compared to its average volume of 7,564,577. The stock has a 50-day simple moving average of $232.27 and a 200 day simple moving average of $244.89. The company has a market cap of $208.56 billion, a P/E ratio of 19.66, a P/E/G ratio of 2.12 and a beta of 0.73. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting analysts' consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the previous year, the firm earned $2.80 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, August 10th. International Business Machines's payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several equities research analysts have commented on IBM shares. BMO Capital Markets dropped their price target on shares of International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a research note on Thursday, July 23rd. Morgan Stanley decreased their price objective on International Business Machines from $293.00 to $190.00 and set an "equal weight" rating for the company in a report on Thursday, July 23rd. Sanford C. Bernstein lowered their target price on International Business Machines from $280.00 to $230.00 and set a "market perform" rating on the stock in a research report on Thursday, July 23rd. Susquehanna lifted their target price on International Business Machines from $225.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, August 31st. Finally, Wolfe Research cut International Business Machines to a "peer perform" rating in a research note on Tuesday, June 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, International Business Machines has an average rating of "Moderate Buy" and a consensus price target of $253.52.

Insider Buying and Selling

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the firm's stock in a transaction dated 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 directly owned 47,800 shares in the company, valued at $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company's stock.

International Business Machines Profile

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.