Cynosure Group LLC Purchases 123 Shares of International Business Machines Co. (NYSE:IBM)

Cynosure Group LLC grew its position in International Business Machines Co. (NYSE:IBM) by 0.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 50,146 shares of the technology company’s stock after purchasing an additional 123 shares during the quarter. International Business Machines comprises about 1.6% of Cynosure Group LLC’s portfolio, making the stock its 17th largest holding. Cynosure Group LLC’s holdings in International Business Machines were worth $11,086,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ancora Advisors LLC grew its position in shares of International Business Machines by 2.3% in the 1st quarter. Ancora Advisors LLC now owns 8,214 shares of the technology company’s stock valued at $1,569,000 after purchasing an additional 183 shares during the period. Meiji Yasuda Life Insurance Co acquired a new position in shares of International Business Machines in the first quarter valued at approximately $226,000. Coppell Advisory Solutions Corp. bought a new stake in shares of International Business Machines during the first quarter worth $224,000. iA Global Asset Management Inc. acquired a new stake in shares of International Business Machines during the first quarter worth $663,000. Finally, New Covenant Trust Company N.A. bought a new stake in International Business Machines in the 1st quarter valued at $125,000. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research reports. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Bernstein Bank raised 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 note on Thursday, October 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $208.12.

Insider Buying and Selling

In related 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Trading Up 1.2 %

International Business Machines stock opened at $228.85 on Wednesday. The stock has a 50-day simple moving average of $219.93 and a 200 day simple moving average of $196.43. The stock has a market capitalization of $211.61 billion, a P/E ratio of 33.31, a PEG ratio of 5.08 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52 week low of $154.75 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

About International Business Machines

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.