International Business Machines Co. (NYSE:IBM) Shares Sold by Stonebrook Private Inc.

Stonebrook Private Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 10.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,426 shares of the technology company’s stock after selling 173 shares during the quarter. Stonebrook Private Inc.’s holdings in International Business Machines were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ellenbecker Investment Group lifted its position in International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after acquiring an additional 46 shares during the period. Goldstein Advisors LLC lifted its holdings in shares of International Business Machines by 4.0% in the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after buying an additional 47 shares during the period. Vertex Planning Partners LLC lifted its holdings in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after buying an additional 47 shares during the period. Sollinda Capital Management LLC lifted its holdings in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after buying an additional 49 shares during the period. Finally, Lansing Street Advisors lifted its holdings in shares of International Business Machines by 3.4% in the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after buying an additional 49 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IBM. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. BMO Capital Markets boosted their price objective 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. Finally, Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

NYSE:IBM opened at $223.02 on Friday. International Business Machines Co. has a 12 month low of $153.92 and a 12 month high of $237.37. The stock has a 50 day moving average of $219.45 and a two-hundred day moving average of $195.21. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $206.21 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 EPS. On average, analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.