Holocene Advisors LP Invests $573.31 Million in International Business Machines Co. (NYSE:IBM)

Holocene Advisors LP acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,593,208 shares of the technology company’s stock, valued at approximately $573,306,000. International Business Machines comprises about 2.3% of Holocene Advisors LP’s holdings, making the stock its 2nd largest holding. Holocene Advisors LP owned approximately 0.28% of International Business Machines at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in International Business Machines in the third quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the second quarter worth about $36,000. Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines during the 3rd quarter valued at approximately $43,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

International Business Machines stock opened at $227.55 on Monday. The firm has a market capitalization of $210.40 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 5.11 and a beta of 0.71. International Business Machines Co. has a 12-month low of $157.88 and a 12-month high of $237.37. The firm has a 50-day moving average price of $220.63 and a 200-day moving average price of $197.69. 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 (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBM. Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Finally, Bank of America lifted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $208.12.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s 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 approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.

International Business Machines Company 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.