Cadence Bank Acquires New Holdings in International Business Machines Co. (NYSE:IBM)

Cadence Bank bought a new stake in International Business Machines Co. (NYSE:IBM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 48,188 shares of the technology company’s stock, valued at approximately $10,653,000. International Business Machines makes up about 0.7% of Cadence Bank’s holdings, making the stock its 28th largest holding.

Several other large investors have also recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. boosted its stake in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in International Business Machines during the third quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the second quarter worth about $36,000. Wolff Wiese Magana LLC raised its position in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in International Business Machines in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 1.2 %

Shares of IBM stock opened at $228.85 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business’s 50 day moving average is $219.93 and its two-hundred day moving average is $196.43. The company has a market cap of $211.61 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 5.08 and a beta of 0.71. International Business Machines Co. has a 12 month low of $154.75 and a 12 month high of $237.37.

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

International Business Machines Announces Dividend

The company 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 dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.92%. International Business Machines’s dividend payout ratio is 97.23%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IBM. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group increased their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Stifel Nicolaus lifted 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. UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, Bernstein Bank upped their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $208.12.

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.