Sumitomo Mitsui Trust Group Inc. Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,473,421 shares of the technology company’s stock after acquiring an additional 32,732 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in International Business Machines were worth $546,824,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IBM. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines in the 2nd quarter worth about $7,160,000. Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines during the third quarter worth approximately $5,117,000. Focused Wealth Management Inc lifted its holdings in International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after purchasing an additional 3,887 shares in the last quarter. QRG Capital Management Inc. boosted its stake in International Business Machines by 4.5% during the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after purchasing an additional 6,004 shares during the last quarter. Finally, F M Investments LLC raised its position in shares of International Business Machines by 39.6% in the third quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock valued at $13,696,000 after buying an additional 17,554 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. Morgan Stanley lowered their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $208.12.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction 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 sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Down 0.0 %

IBM opened at $213.62 on Tuesday. The company has a market cap of $197.52 billion, a PE ratio of 31.09, a P/E/G ratio of 4.80 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business has a 50 day moving average price of $218.25 and a two-hundred day moving average price of $192.68. International Business Machines Co. has a 52 week low of $147.35 and a 52 week 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. 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 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.