Sheaff Brock Investment Advisors LLC Has $3.52 Million Position in International Business Machines Co. (NYSE:IBM)

Sheaff Brock Investment Advisors LLC boosted its stake in International Business Machines Co. (NYSE:IBM) by 6.8% in the third quarter, HoldingsChannel reports. The firm owned 15,912 shares of the technology company’s stock after buying an additional 1,017 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in International Business Machines were worth $3,518,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc raised its position in International Business Machines by 8.3% in the 3rd quarter. CIBC Asset Management Inc now owns 168,271 shares of the technology company’s stock valued at $37,201,000 after buying an additional 12,865 shares during the last quarter. Intellectus Partners LLC lifted its position in shares of International Business Machines by 3.3% during the third quarter. Intellectus Partners LLC now owns 4,953 shares of the technology company’s stock valued at $1,095,000 after purchasing an additional 158 shares in the last quarter. Balboa Wealth Partners grew its position in International Business Machines by 59.9% in the 3rd quarter. Balboa Wealth Partners now owns 2,430 shares of the technology company’s stock worth $537,000 after purchasing an additional 910 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of International Business Machines by 17.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 26,017 shares of the technology company’s stock worth $5,752,000 after buying an additional 3,789 shares in the last quarter. Finally, Lifeworks Advisors LLC boosted its stake in shares of International Business Machines by 27.4% in the 3rd quarter. Lifeworks Advisors LLC now owns 30,244 shares of the technology company’s stock worth $6,686,000 after buying an additional 6,513 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IBM shares. The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction 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 in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by insiders.

International Business Machines Trading Down 0.5 %

NYSE IBM opened at $208.00 on Friday. The firm has a market capitalization of $192.33 billion, a PE ratio of 30.42, a P/E/G ratio of 4.74 and a beta of 0.71. The stock’s 50 day moving average is $218.58 and its 200 day moving average is $193.11. International Business Machines Co. has a twelve month low of $152.13 and a twelve month high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the firm earned $2.20 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

International Business Machines Profile

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.