International Business Machines Corporation $IBM Stock Position Lifted by Channing Capital Management LLC

Channing Capital Management LLC boosted its stake in International Business Machines Corporation (NYSE:IBM) by 21.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,282 shares of the technology company’s stock after buying an additional 5,098 shares during the quarter. Channing Capital Management LLC’s holdings in International Business Machines were worth $8,262,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. CFS Investment Advisory Services LLC boosted its position in International Business Machines by 0.4% during the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after purchasing an additional 34 shares during the last quarter. KPP Advisory Services LLC lifted its holdings in shares of International Business Machines by 1.7% during the 3rd quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock valued at $584,000 after buying an additional 34 shares during the last quarter. Marco Investment Management LLC lifted its holdings in shares of International Business Machines by 0.3% during the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock valued at $3,040,000 after buying an additional 34 shares during the last quarter. MA Private Wealth grew its stake in shares of International Business Machines by 1.5% in the 3rd quarter. MA Private Wealth now owns 2,242 shares of the technology company’s stock valued at $633,000 after buying an additional 34 shares in the last quarter. Finally, Ignite Planners LLC increased its holdings in International Business Machines by 0.9% in the third quarter. Ignite Planners LLC now owns 4,000 shares of the technology company’s stock worth $1,129,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, Director David N. Farr acquired 1,000 shares of International Business Machines stock in a transaction dated Friday, January 30th. The stock was bought at an average cost of $304.00 per share, with a total value of $304,000.00. Following the completion of the transaction, the director owned 9,258 shares of the company’s stock, valued at $2,814,432. The trade was a 12.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Stock Up 0.4%

International Business Machines stock opened at $257.20 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The firm has a fifty day moving average price of $294.08 and a two-hundred day moving average price of $284.23. The firm has a market cap of $240.41 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 2.58 and a beta of 0.69.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $1.68 per share. The ex-dividend date is Tuesday, February 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. International Business Machines’s payout ratio is 60.27%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Dbs Bank upgraded shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 19th. UBS Group set a $317.00 price objective on shares of International Business Machines in a report on Thursday, January 29th. Oppenheimer set a $380.00 target price on shares of International Business Machines and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Evercore raised their target price on International Business Machines from $330.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Finally, Jefferies Financial Group upped their price target on International Business Machines from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $330.07.

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.