King Luther Capital Management Corp Decreases Stake in International Business Machines Co. (NYSE:IBM)

King Luther Capital Management Corp decreased its holdings in International Business Machines Co. (NYSE:IBM) by 11.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 25,028 shares of the technology company’s stock after selling 3,126 shares during the period. King Luther Capital Management Corp’s holdings in International Business Machines were worth $5,533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Meeder Asset Management Inc. boosted its position in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines in the second quarter worth about $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines in the third quarter valued at about $5,117,000. Aljian Capital Management LLC purchased a new stake in shares of International Business Machines during the 3rd quarter valued at about $611,000. Finally, Focused Wealth Management Inc lifted its position in International Business Machines by 52.2% during the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after acquiring an additional 3,887 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IBM shares. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. DZ Bank lowered 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. Finally, UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Three investment 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. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Up 3.6 %

IBM stock opened at $222.30 on Friday. The firm has a market cap of $205.55 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 4.72 and a beta of 0.71. International Business Machines Co. has a 1-year low of $153.92 and a 1-year high of $237.37. The firm has a fifty day moving average price of $219.29 and a two-hundred day moving average price of $194.83. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating 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 the consensus estimate of $15.08 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business 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 $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

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.