Premier Fund Managers Ltd Lowers Stake in International Business Machines Co. (NYSE:IBM)

Premier Fund Managers Ltd cut its position in International Business Machines Co. (NYSE:IBM) by 20.2% in the third quarter, HoldingsChannel.com reports. The firm owned 47,080 shares of the technology company’s stock after selling 11,940 shares during the quarter. Premier Fund Managers Ltd’s holdings in International Business Machines were worth $10,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. increased its stake in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines during the third quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter valued at approximately $36,000. Wolff Wiese Magana LLC lifted its holdings in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in International Business Machines in the 3rd quarter worth approximately $43,000. 58.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’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 sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Three 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. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

NYSE:IBM opened at $210.31 on Wednesday. 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 stock’s fifty day moving average is $218.98 and its 200 day moving average is $194.50. The firm has a market capitalization of $194.46 billion, a PE ratio of 30.61, a PEG ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $152.35 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM) last released its earnings results 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 net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business earned $2.20 EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.18%. International Business Machines’s dividend payout ratio (DPR) is presently 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.