RB Capital Management LLC Sells 243 Shares of International Business Machines Co. (NYSE:IBM)

RB Capital Management LLC lowered its holdings in International Business Machines Co. (NYSE:IBM) by 18.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,088 shares of the technology company’s stock after selling 243 shares during the quarter. RB Capital Management LLC’s holdings in International Business Machines were worth $241,000 at the end of the most recent quarter.

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

International Business Machines Stock Up 0.8 %

Shares of International Business Machines stock opened at $231.76 on Wednesday. The company has a market capitalization of $214.30 billion, a PE ratio of 33.74, a P/E/G ratio of 5.16 and a beta of 0.73. International Business Machines Co. has a 1-year low of $157.88 and a 1-year high of $239.35. The business has a 50-day moving average of $221.92 and a 200-day moving average of $200.27. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during 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 company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. As a group, equities analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. 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 dividend payout ratio (DPR) is 97.23%.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on IBM. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Morgan Stanley lowered their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $208.12.

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.