Rep. Josh Gottheimer Purchases Shares of International Business Machines Co. (NYSE:IBM)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of International Business Machines Co. (NYSE:IBM). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in International Business Machines stock on October 10th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

International Business Machines Stock Performance

Shares of IBM stock opened at $213.76 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market capitalization of $197.65 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 4.64 and a beta of 0.71. The company’s 50 day moving average price is $217.49 and its two-hundred day moving average price is $191.86. International Business Machines Co. has a 52 week low of $145.28 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the company posted $2.20 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Bank of America lifted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lowered their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Three equities 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 company. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $208.12.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IBM. Central Pacific Bank Trust Division bought a new stake in shares of International Business Machines during the first quarter worth about $226,000. Howland Capital Management LLC boosted its holdings in International Business Machines by 1.0% in the first quarter. Howland Capital Management LLC now owns 8,319 shares of the technology company’s stock valued at $1,589,000 after acquiring an additional 84 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in International Business Machines by 0.3% in the first quarter. Texas Permanent School Fund Corp now owns 189,142 shares of the technology company’s stock valued at $36,119,000 after acquiring an additional 611 shares during the last quarter. Hemenway Trust Co LLC boosted its holdings in International Business Machines by 13.3% in the first quarter. Hemenway Trust Co LLC now owns 3,546 shares of the technology company’s stock valued at $677,000 after acquiring an additional 415 shares during the last quarter. Finally, Broderick Brian C boosted its holdings in International Business Machines by 120.3% in the first quarter. Broderick Brian C now owns 4,762 shares of the technology company’s stock valued at $909,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.