International Business Machines Co. (NYSE:IBM) Shares Sold by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 6,505 shares of the technology company’s stock after selling 80 shares during the period. TrinityPoint Wealth LLC’s holdings in International Business Machines were worth $1,438,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Swiss National Bank lifted its position in shares of International Business Machines by 0.5% in the 3rd 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 in the last quarter. Claro Advisors LLC lifted its holdings in shares of International Business Machines by 18.2% in the third quarter. Claro Advisors LLC now owns 6,693 shares of the technology company’s stock valued at $1,480,000 after purchasing an additional 1,031 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of International Business Machines in the third quarter worth $237,000. Tower Bridge Advisors grew its holdings in shares of International Business Machines by 22.5% during the third quarter. Tower Bridge Advisors now owns 13,484 shares of the technology company’s stock valued at $2,981,000 after buying an additional 2,475 shares in the last quarter. Finally, Adero Partners LLC acquired a new position in International Business Machines during the third quarter valued at $289,000. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on IBM shares. Bernstein Bank raised their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Jefferies Financial Group boosted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, BMO Capital Markets boosted their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Down 1.9 %

IBM opened at $204.99 on Monday. The firm has a market cap of $189.54 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. 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 business has a 50 day moving average price of $218.79 and a 200 day moving average price of $193.88. International Business Machines Co. has a twelve month low of $152.13 and a twelve month high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the company earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.

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.