Groupama Asset Managment lessened its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 28.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,277 shares of the technology company’s stock after selling 5,392 shares during the quarter. Groupama Asset Managment’s holdings in International Business Machines were worth $29,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC purchased a new stake in International Business Machines during the 3rd quarter worth $29,000. Capital Performance Advisors LLP acquired a new position in International Business Machines in the 3rd quarter worth $43,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the second quarter valued at about $36,000. Finally, Quest Partners LLC boosted its stake in shares of International Business Machines by 23,700.0% during the 3rd quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock valued at $53,000 after buying an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.
Insider Buying and Selling
In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by corporate insiders.
International Business Machines Stock Performance
International Business Machines (NYSE:IBM – Get Free Report) last posted 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. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 EPS. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.
International Business Machines Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. International Business Machines’s payout ratio is presently 97.23%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley lowered their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $208.12.
Check Out Our Latest Stock Analysis on IBM
International Business Machines Company 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.
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