International Business Machines Corporation $IBM Stake Boosted by Channing Capital Management LLC

Channing Capital Management LLC increased its stake in International Business Machines Corporation (NYSE:IBM) by 21.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,282 shares of the technology company’s stock after purchasing an additional 5,098 shares during the period. Channing Capital Management LLC’s holdings in International Business Machines were worth $8,262,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IBM. Dover Advisors LLC boosted its holdings in shares of International Business Machines by 10.6% during the third quarter. Dover Advisors LLC now owns 8,528 shares of the technology company’s stock valued at $2,406,000 after acquiring an additional 814 shares during the period. Bleakley Financial Group LLC lifted its position in International Business Machines by 20.5% in the 3rd quarter. Bleakley Financial Group LLC now owns 42,924 shares of the technology company’s stock valued at $12,111,000 after purchasing an additional 7,301 shares during the last quarter. Sigma Planning Corp boosted its stake in International Business Machines by 8.6% during the 3rd quarter. Sigma Planning Corp now owns 39,386 shares of the technology company’s stock valued at $11,113,000 after purchasing an additional 3,111 shares during the period. Inspire Trust Co. N.A. grew its position in International Business Machines by 27.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 23,000 shares of the technology company’s stock worth $6,490,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ increased its stake in shares of International Business Machines by 1.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 290,836 shares of the technology company’s stock valued at $82,062,000 after purchasing an additional 5,475 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.4%

Shares of IBM stock opened at $257.20 on Friday. The stock has a 50-day simple moving average of $294.08 and a 200 day simple moving average of $284.23. The stock 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. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders 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 dividend yield of 2.6%. International Business Machines’s dividend payout ratio is currently 60.27%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent analyst reports. Dbs Bank raised International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday, January 19th. Argus set a $360.00 price target on International Business Machines in a research note on Friday, January 30th. Bank of America raised their price target on International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. UBS Group set a $317.00 price objective on shares of International Business Machines in a report on Thursday, January 29th. Finally, Morgan Stanley set a $304.00 target price on shares of International Business Machines in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.07.

Insider Activity at International Business Machines

In related news, Director David N. Farr acquired 1,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. The trade was a 12.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.