Minneapolis Portfolio Management Group LLC Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Minneapolis Portfolio Management Group LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,746 shares of the technology company’s stock after selling 5,476 shares during the quarter. International Business Machines accounts for 5.2% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 2nd biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in International Business Machines were worth $40,180,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in International Business Machines by 6.7% in the 1st 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 during the period. International Assets Investment Management LLC grew its stake in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after buying an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 buying an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $1.53 during trading on Friday, reaching $208.25. 3,334,308 shares of the company’s stock traded hands, compared to its average volume of 4,747,218. The firm has a market cap of $192.56 billion, a PE ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71. The company has a 50-day simple moving average of $216.84 and a 200-day simple moving average of $191.29. 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 Co. has a fifty-two week low of $144.84 and a fifty-two 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 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued 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 yield of 3.21%. International Business Machines’s payout ratio is 97.23%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research reports. BMO Capital Markets raised their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. UBS Group upped their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Bank of America lifted their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $208.12.

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.