International Business Machines Corporation $IBM Shares Bought by Payden & Rygel

Payden & Rygel lifted its position in shares of International Business Machines Corporation (NYSE:IBM) by 24.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,300 shares of the technology company’s stock after buying an additional 13,700 shares during the period. International Business Machines makes up approximately 1.6% of Payden & Rygel’s portfolio, making the stock its 18th largest position. Payden & Rygel’s holdings in International Business Machines were worth $19,836,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Winnow Wealth LLC acquired a new stake in International Business Machines during the second quarter worth $27,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of International Business Machines during the 3rd quarter worth about $28,000. Trifecta Capital Advisors LLC increased its position in shares of International Business Machines by 129.1% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock worth $36,000 after purchasing an additional 71 shares during the last quarter. Legacy Wealth Managment LLC ID raised its holdings in International Business Machines by 48.5% in the 2nd quarter. Legacy Wealth Managment LLC ID now owns 147 shares of the technology company’s stock valued at $43,000 after buying an additional 48 shares during the period. Finally, Davis Capital Management acquired a new position in International Business Machines in the third quarter valued at about $54,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on IBM. Evercore lifted their price target on shares of International Business Machines from $330.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Morgan Stanley set a $304.00 price target on International Business Machines in a research note on Thursday, January 29th. Royal Bank Of Canada set a $361.00 price target on International Business Machines in a research report on Thursday, January 29th. Finally, DZ Bank raised International Business Machines to a “hold” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $330.07.

Insider Transactions at International Business Machines

In other news, Director David N. Farr purchased 1,000 shares of the stock in a transaction on Friday, January 30th. The stock was bought at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. The trade was a 12.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

International Business Machines Stock Up 0.4%

International Business Machines stock opened at $257.20 on Monday. The firm has a market capitalization of $240.41 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.58 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The stock’s fifty day simple moving average is $294.08 and its 200-day simple moving average is $284.45.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.33 by $0.19. The firm had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.International Business Machines’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.92 EPS. As a group, equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a $1.68 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $6.72 annualized dividend and a yield of 2.6%. International Business Machines’s dividend payout ratio (DPR) is 60.27%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.