International Business Machines Co. (NYSE:IBM) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 55.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,637 shares of the technology company’s stock after selling 6,965 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in International Business Machines were worth $1,246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Legal & General Group Plc increased its stake in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after acquiring an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. BMO Capital Markets boosted their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $200.82.

International Business Machines Trading Up 0.3 %

Shares of IBM stock opened at $233.64 on Thursday. The company has a 50-day moving average of $210.57 and a two-hundred day moving average of $188.54. The firm has a market cap of $214.62 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. 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 posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the firm earned $2.18 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.86%. 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.