Flputnam Investment Management Co. Purchases 7,750 Shares of International Business Machines Corporation $IBM

Flputnam Investment Management Co. raised its position in shares of International Business Machines Corporation (NYSE:IBM) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 103,108 shares of the technology company’s stock after acquiring an additional 7,750 shares during the period. Flputnam Investment Management Co.’s holdings in International Business Machines were worth $29,093,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Benson Investment Management Company Inc. bought a new stake in International Business Machines during the 3rd quarter worth about $6,383,000. Congress Asset Management Co. raised its stake in shares of International Business Machines by 0.4% in the third quarter. Congress Asset Management Co. now owns 52,863 shares of the technology company’s stock worth $14,916,000 after acquiring an additional 218 shares during the last quarter. Focused Wealth Management Inc lifted its position in shares of International Business Machines by 6.4% during the third quarter. Focused Wealth Management Inc now owns 14,331 shares of the technology company’s stock worth $4,044,000 after purchasing an additional 866 shares in the last quarter. Matauro LLC grew its stake in shares of International Business Machines by 1.4% during the third quarter. Matauro LLC now owns 4,660 shares of the technology company’s stock valued at $1,315,000 after purchasing an additional 65 shares during the last quarter. Finally, Fairvoy Private Wealth LLC increased its holdings in shares of International Business Machines by 14.5% in the third quarter. Fairvoy Private Wealth LLC now owns 19,009 shares of the technology company’s stock valued at $5,363,000 after purchasing an additional 2,409 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM stock opened at $300.94 on Friday. The stock has a market cap of $281.30 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 3.00 and a beta of 0.69. The stock has a 50-day moving average of $301.03 and a 200-day moving average of $279.66. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the previous year, the company earned $2.30 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were given a $1.68 dividend. The ex-dividend date was Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio is currently 80.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Oppenheimer assumed coverage on International Business Machines in a research report on Friday, November 21st. They issued an “outperform” rating and a $360.00 price objective on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. UBS Group reiterated a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Finally, Stifel Nicolaus upped their target price on shares of International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and a consensus price target of $293.38.

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.