International Business Machines Co. (NYSE:IBM) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,216 shares of the technology company’s stock after selling 801 shares during the period. Meritage Portfolio Management’s holdings in International Business Machines were worth $8,228,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Tyler Stone Wealth Management raised its holdings in shares of International Business Machines by 121.5% during the 3rd quarter. Tyler Stone Wealth Management now owns 2,428 shares of the technology company’s stock valued at $537,000 after buying an additional 1,332 shares during the period. Round Rock Advisors LLC grew its position in International Business Machines by 5.2% in the third quarter. Round Rock Advisors LLC now owns 13,622 shares of the technology company’s stock valued at $3,012,000 after acquiring an additional 678 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in shares of International Business Machines by 10.7% during the third quarter. Axxcess Wealth Management LLC now owns 17,666 shares of the technology company’s stock valued at $3,905,000 after purchasing an additional 1,705 shares during the period. Alan B Lancz & Associates Inc. acquired a new position in shares of International Business Machines during the third quarter worth $209,000. Finally, Eagle Bluffs Wealth Management LLC boosted its stake in shares of International Business Machines by 3.6% in the third quarter. Eagle Bluffs Wealth Management LLC now owns 1,567 shares of the technology company’s stock valued at $346,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock traded up $0.03 during mid-day trading on Friday, reaching $213.72. The company had a trading volume of 3,201,038 shares, compared to its average volume of 4,595,376. The stock has a market capitalization of $197.62 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.80 and a beta of 0.71. The stock’s 50-day simple moving average is $218.02 and its two-hundred day simple moving average is $192.24. International Business Machines Co. has a one year low of $145.28 and a one year high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the firm earned $2.20 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. 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 3.13%. International Business Machines’s dividend payout ratio is presently 97.23%.

Analysts Set New Price Targets

Several research firms recently issued reports on IBM. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. 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. The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three 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. According to data from MarketBeat, International Business Machines 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 shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was 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 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.