Headinvest LLC Sells 225 Shares of International Business Machines Co. (NYSE:IBM)

Headinvest LLC trimmed its stake in International Business Machines Co. (NYSE:IBM) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,250 shares of the technology company’s stock after selling 225 shares during the period. Headinvest LLC’s holdings in International Business Machines were worth $1,161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ellenbecker Investment Group increased its stake in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the period. Goldstein Advisors LLC increased its position in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the period. Vertex Planning Partners LLC raised its holdings in International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after purchasing an additional 47 shares during the last quarter. Sollinda Capital Management LLC lifted its position in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after purchasing an additional 49 shares during the period. Finally, Lansing Street Advisors boosted its stake in shares of International Business Machines by 3.4% in the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after purchasing an additional 49 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Three 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Price Performance

Shares of NYSE IBM opened at $238.04 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm’s 50-day simple moving average is $221.74 and its 200 day simple moving average is $199.67. The stock has a market cap of $220.10 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 5.24 and a beta of 0.73. International Business Machines Co. has a fifty-two week low of $157.88 and a fifty-two week high of $238.38.

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, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $2.20 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is currently 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.