International Business Machines Co. (NYSE:IBM) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. lessened its position in International Business Machines Co. (NYSE:IBM – Get Rating) by 7.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 30,183 shares of the technology company’s stock after selling 2,382 shares during the period. International Business Machines makes up 1.1% of Wright Investors Service Inc.’s investment portfolio, making the stock its 28th largest holding. Wright Investors Service Inc.’s holdings in International Business Machines were worth $3,586,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P raised its holdings in International Business Machines by 97.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after purchasing an additional 127,093 shares during the last quarter. Roundview Capital LLC purchased a new position in International Business Machines during the 1st quarter valued at about $203,000. Sei Investments Co. raised its position in International Business Machines by 35.7% during the first quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock worth $23,157,000 after acquiring an additional 46,756 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of International Business Machines by 1.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock valued at $12,438,000 after purchasing an additional 1,821 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of International Business Machines by 1.5% during the 1st quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock worth $49,698,000 after purchasing an additional 5,506 shares during the last quarter. Institutional investors and hedge funds own 55.90% of the company’s stock.

Insider Activity

In other International Business Machines news, VP Bene Robert F. Del sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.36, for a total value of $445,080.00. Following the transaction, the vice president now owns 14,553 shares in the company, valued at approximately $2,159,083.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on IBM shares. UBS Group decreased their price objective on International Business Machines from $112.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, October 20th. Credit Suisse Group decreased their target price on shares of International Business Machines from $158.00 to $155.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Evercore ISI increased their price target on International Business Machines from $125.00 to $135.00 and gave the stock an “inline” rating in a research note on Thursday, October 20th. Stifel Nicolaus decreased their price target on International Business Machines from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, October 17th. Finally, Bank of America decreased their target price on shares of International Business Machines from $155.00 to $145.00 in a research report on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $139.33.

International Business Machines Stock Down 0.2 %

Shares of NYSE:IBM traded down $0.26 during midday trading on Friday, hitting $145.29. 36,509 shares of the company’s stock traded hands, compared to its average volume of 3,221,521. International Business Machines Co. has a twelve month low of $115.54 and a twelve month high of $153.21. The company has a market cap of $131.36 billion, a PE ratio of 106.24, a P/E/G ratio of 2.23 and a beta of 0.89. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.89 and a current ratio of 0.95. The firm’s fifty day moving average price is $144.28 and its two-hundred day moving average price is $135.45.

International Business Machines (NYSE:IBM – Get Rating) last issued its earnings results on Wednesday, October 19th. The technology company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.03. The company had revenue of $14.11 billion during the quarter, compared to the consensus estimate of $13.55 billion. International Business Machines had a return on equity of 41.50% and a net margin of 2.08%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.52 earnings per share. On average, equities research analysts anticipate that International Business Machines Co. will post 9.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, December 10th. Stockholders of record on Thursday, November 10th were given a dividend of $1.65 per share. The ex-dividend date was Wednesday, November 9th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 4.54%. International Business Machines’s payout ratio is currently 481.76%.

International Business Machines Company Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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