Rock Point Advisors LLC Sells 109 Shares of International Business Machines Co. (NYSE:IBM)

Rock Point Advisors LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 6.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,585 shares of the technology company’s stock after selling 109 shares during the quarter. Rock Point Advisors LLC’s holdings in International Business Machines were worth $350,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after acquiring an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. raised its stake in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. FMR LLC lifted its holdings in shares of International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the period. Finally, Swiss National Bank increased its position in International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The shares were 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 of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by insiders.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group raised their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group raised 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, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $0.65 on Tuesday, hitting $226.78. 640,387 shares of the company were exchanged, compared to its average volume of 4,234,315. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock’s 50 day moving average price is $219.63 and its 200 day moving average price is $196.00. International Business Machines Co. has a 1-year low of $154.75 and a 1-year high of $237.37. The firm has a market capitalization of $209.69 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 5.01 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) 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 analysts’ expectations of $15.08 billion. During the same period last year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.95%. International Business Machines’s payout ratio is currently 97.23%.

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.