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

Baker Avenue Asset Management LP trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,591 shares of the technology company’s stock after selling 543 shares during the period. Baker Avenue Asset Management LP’s holdings in International Business Machines were worth $8,532,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Legal & General Group Plc lifted its position in shares of 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 during the last quarter. Ameriprise Financial Inc. lifted its position in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after buying 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% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after buying an additional 304,390 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on IBM. Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Bank of America boosted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. 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. Finally, UBS Group upped their price target 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. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $208.12.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, 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 is accessible through this hyperlink. 0.07% of the stock is owned by company insiders.

International Business Machines Stock Performance

Shares of IBM traded up $0.03 during midday trading on Friday, hitting $213.72. 3,201,038 shares of the stock traded hands, compared to its average volume of 4,595,376. International Business Machines Co. has a 1-year low of $145.28 and a 1-year high of $237.37. The firm has a market capitalization of $197.62 billion, a PE ratio of 31.11, a price-to-earnings-growth 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. The business’s 50 day moving average price is $218.02 and its two-hundred day moving average price is $192.24.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.20 earnings per share. Equities research analysts predict that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, November 12th. 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.