International Business Machines Co. (NYSE:IBM) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lessened its stake in International Business Machines Co. (NYSE:IBM) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,225 shares of the technology company’s stock after selling 164 shares during the period. Patten & Patten Inc. TN’s holdings in International Business Machines were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines in the second quarter valued at $7,160,000. Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines during the 3rd quarter worth about $5,117,000. Focused Wealth Management Inc raised its stake in shares of International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after acquiring an additional 3,887 shares during the period. QRG Capital Management Inc. raised its stake in shares of International Business Machines by 4.5% during the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock valued at $30,992,000 after purchasing an additional 6,004 shares during the period. Finally, F M Investments LLC lifted its holdings in International Business Machines by 39.6% in the 3rd quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock worth $13,696,000 after buying an additional 17,554 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. Evercore ISI increased 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 note on Wednesday, September 11th. Bernstein Bank boosted their target price on 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 raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.

International Business Machines Trading Down 0.0 %

Shares of IBM stock opened at $213.62 on Tuesday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a fifty-two week low of $147.35 and a fifty-two week high of $237.37. The company has a market cap of $197.52 billion, a PE ratio of 31.09, a P/E/G ratio of 4.80 and a beta of 0.71. The stock’s fifty day moving average price is $218.02 and its two-hundred day moving average price is $192.36.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share. Equities analysts predict that International Business Machines Co. will post 10.11 EPS 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 issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, November 12th. 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.