Franklin Resources Inc. grew its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 22.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,622,432 shares of the technology company's stock after purchasing an additional 302,675 shares during the period. Franklin Resources Inc. owned approximately 0.18% of International Business Machines worth $381,683,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the period. Legal & General Group Plc boosted its holdings in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company's stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. grew its stake in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. FMR LLC increased its holdings in International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company's stock worth $1,148,717,000 after purchasing an additional 294,276 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company's stock valued at $829,431,000 after purchasing an additional 304,390 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.
In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company's stock.
IBM has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a report on Monday, September 30th. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a report on Thursday, October 3rd. Finally, UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $208.12.
View Our Latest Stock Report on IBM
Shares of NYSE:IBM opened at $230.75 on Friday. International Business Machines Co. has a 12 month low of $157.88 and a 12 month high of $239.35. The firm has a market capitalization of $213.36 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The business's 50 day simple moving average is $222.67 and its 200-day simple moving average is $201.54. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.
International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating 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 firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the firm posted $2.20 EPS. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.89%. International Business Machines's dividend payout ratio (DPR) is presently 97.23%.
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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