Hazlett Burt & Watson Inc. Has $29,000 Stake in International Business Machines Co. (NYSE:IBM)

by · The Cerbat Gem

Hazlett Burt & Watson Inc. lifted its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 1,054.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127 shares of the technology company’s stock after purchasing an additional 116 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in International Business Machines were worth $29,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Nordea Investment Management AB lifted its position in International Business Machines by 3.3% in the 1st quarter. Nordea Investment Management AB now owns 66,975 shares of the technology company’s stock valued at $12,790,000 after acquiring an additional 2,125 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in International Business Machines in the 1st quarter valued at about $226,000. Proficio Capital Partners LLC lifted its position in International Business Machines by 4.9% in the 1st quarter. Proficio Capital Partners LLC now owns 2,074 shares of the technology company’s stock valued at $396,000 after acquiring an additional 96 shares in the last quarter. Callan Capital LLC bought a new position in shares of International Business Machines during the 1st quarter worth approximately $252,000. Finally, Larson Financial Group LLC lifted its position in shares of International Business Machines by 20.4% during the 1st quarter. Larson Financial Group LLC now owns 2,895 shares of the technology company’s stock worth $553,000 after buying an additional 491 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IBM shares. Bernstein Bank lifted their target price 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. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.12.

Read Our Latest Stock Report on IBM

International Business Machines Stock Performance

International Business Machines stock opened at $206.32 on Tuesday. International Business Machines Co. has a 1-year low of $145.28 and a 1-year high of $237.37. The firm has a market cap of $190.77 billion, a P/E ratio of 30.03, a P/E/G ratio of 4.68 and a beta of 0.71. The firm has a 50-day moving average of $217.01 and a 200-day moving average of $191.53. 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 – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) 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 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 prior year, the firm earned $2.20 earnings per share. International Business Machines’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The business 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 3.24%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

International Business Machines Profile

(Free Report)

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.

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