International Business Machines Co. (NYSE:IBM) Stock Position Lowered by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 27.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,112 shares of the technology company’s stock after selling 3,110 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in International Business Machines were worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MGB Wealth Management LLC bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $229,000. Truepoint Inc. bought a new position in shares of International Business Machines in the third quarter valued at $292,000. KKM Financial LLC lifted its position in shares of International Business Machines by 6.6% during the 3rd quarter. KKM Financial LLC now owns 13,973 shares of the technology company’s stock valued at $3,089,000 after acquiring an additional 863 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of International Business Machines by 10.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 24,991 shares of the technology company’s stock worth $5,525,000 after acquiring an additional 2,298 shares in the last quarter. Finally, Advisory Services & Investments LLC acquired a new position in shares of International Business Machines in the 3rd quarter worth $420,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was 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. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Stock Performance

Shares of IBM opened at $222.97 on Friday. The firm has a market cap of $206.17 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’s fifty day moving average is $219.45 and its 200-day moving average is $195.39. 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 12 month low of $153.92 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last posted its earnings results 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. 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 during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the company earned $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced 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. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Analyst Ratings Changes

Several analysts have issued reports on IBM shares. UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Bernstein Bank boosted their target price on shares of 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. Finally, Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.