International Business Machines Co. (NYSE:IBM) Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,591 shares of the technology company’s stock after selling 543 shares during the quarter. Baker Avenue Asset Management LP’s holdings in International Business Machines were worth $8,532,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new stake in International Business Machines in the 3rd quarter valued at about $29,000. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the 1st quarter worth about $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines during the 1st quarter worth about $28,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of International Business Machines during the 3rd quarter worth about $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM traded up $0.03 during trading on Friday, reaching $213.72. The stock had a trading volume of 3,201,038 shares, compared to its average volume of 4,595,376. The stock has a market cap of $197.62 billion, a PE ratio of 31.11, a PEG ratio of 4.80 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a one year low of $145.28 and a one year high of $237.37. The business has a 50-day moving average of $218.02 and a 200-day moving average of $192.24.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the business posted $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.11 EPS 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 given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research reports. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $208.12.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by insiders.

International Business Machines Profile

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.