Sumitomo Mitsui Trust Group Inc. Purchases 32,732 Shares of International Business Machines Co. (NYSE:IBM)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in International Business Machines Co. (NYSE:IBM) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,473,421 shares of the technology company’s stock after purchasing an additional 32,732 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of International Business Machines worth $546,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. boosted its stake in shares of 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 worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new position in shares of International Business Machines in the third quarter worth $29,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the 1st quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in shares of International Business Machines in the third quarter worth about $43,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IBM shares. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Jefferies Financial Group lifted their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Trading Down 0.0 %

Shares of NYSE:IBM opened at $213.62 on Tuesday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market capitalization of $197.52 billion, a P/E ratio of 31.09, a P/E/G ratio of 4.80 and a beta of 0.71. The business’s 50-day moving average is $218.25 and its 200 day moving average is $192.68. International Business Machines Co. has a 1 year low of $147.35 and a 1 year 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 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

Insider Buying and Selling

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

International Business Machines Company 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.