Associated Banc Corp Reduces Holdings in International Business Machines Co. (NYSE:IBM)

Associated Banc Corp reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,215 shares of the technology company’s stock after selling 70 shares during the period. Associated Banc Corp’s holdings in International Business Machines were worth $4,027,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its holdings in 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 in the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter worth approximately $36,000. Wolff Wiese Magana LLC lifted its holdings in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines in the third quarter worth approximately $43,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 1.5 %

Shares of NYSE IBM opened at $226.25 on Tuesday. International Business Machines Co. has a 52-week low of $154.75 and a 52-week high of $237.37. The firm has a market capitalization of $209.20 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 5.01 and a beta of 0.71. The stock has a 50 day moving average price of $219.63 and a 200 day moving average price of $196.00. 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 (NYSE:IBM) last issued 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 company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the business earned $2.20 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business 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 of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.95%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analysts Set New Price Targets

Several research analysts recently weighed in on IBM shares. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bernstein Bank raised their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley decreased their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $208.12.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred 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 owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.07% of the company’s stock.

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.