International Business Machines Co. (NYSE:IBM) Shares Sold by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 16.0% in the third quarter, Holdings Channel reports. The institutional investor owned 8,188 shares of the technology company’s stock after selling 1,563 shares during the period. Nicolet Advisory Services LLC’s holdings in International Business Machines were worth $1,824,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of IBM. Capital World Investors purchased a new stake in shares of International Business Machines in the first quarter valued at approximately $61,865,000. Canada Pension Plan Investment Board increased its holdings in International Business Machines by 4,917.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 281,501 shares of the technology company’s stock worth $53,755,000 after acquiring an additional 275,891 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in International Business Machines by 151.6% during 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 period. Ceeto Capital Group LLC lifted its holdings in International Business Machines by 2.0% during the first quarter. Ceeto Capital Group LLC now owns 10,747 shares of the technology company’s stock valued at $2,052,000 after purchasing an additional 208 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC grew its position in shares of International Business Machines by 62.3% in the first quarter. Beaird Harris Wealth Management LLC now owns 740 shares of the technology company’s stock valued at $141,000 after purchasing an additional 284 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IBM. Bank of America raised their price target 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. Morgan Stanley lowered their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Bernstein Bank increased their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. 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 report on Wednesday, October 16th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three equities research 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 company currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

IBM stock opened at $223.02 on Friday. International Business Machines Co. has a 52-week low of $153.92 and a 52-week high of $237.37. The business has a fifty day moving average of $219.45 and a two-hundred day moving average of $195.21. The stock has a market cap of $206.21 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 4.99 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.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.00%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

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.