OLD National Bancorp IN Has $2.84 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

OLD National Bancorp IN lifted its stake in International Business Machines Co. (NYSE:IBM) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,852 shares of the technology company’s stock after acquiring an additional 380 shares during the quarter. OLD National Bancorp IN’s holdings in International Business Machines were worth $2,841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IBM. Ellenbecker Investment Group increased its position in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares during the last quarter. Armbruster Capital Management Inc. raised its stake in shares of International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after acquiring an additional 56 shares in the last quarter. Aspect Partners LLC lifted its holdings in shares of International Business Machines by 11.2% in the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock worth $122,000 after acquiring an additional 56 shares during the last quarter. CVA Family Office LLC boosted its stake in shares of International Business Machines by 3.3% in the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after purchasing an additional 57 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC grew its holdings in shares of International Business Machines by 5.1% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several recent research reports. Bank of America boosted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Royal Bank of Canada increased their price objective on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley raised their target price on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $203.06.

International Business Machines Trading Down 0.3 %

Shares of NYSE IBM opened at $232.20 on Monday. The firm has a 50-day moving average of $212.19 and a 200 day moving average of $189.14. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $237.37. The stock has a market cap of $213.30 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the business earned $2.18 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.