International Business Machines Co. (NYSE:IBM) Shares Sold by Associated Banc Corp

Associated Banc Corp decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.4% during the third quarter, HoldingsChannel reports. The firm owned 18,215 shares of the technology company’s stock after selling 70 shares during the quarter. Associated Banc Corp’s holdings in International Business Machines were worth $4,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. lifted its holdings in shares of 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 worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC purchased a new stake in shares of International Business Machines in the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the second quarter worth $36,000. Wolff Wiese Magana LLC lifted its position 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 during the period. Finally, Capital Performance Advisors LLP purchased a new stake in International Business Machines in the third quarter valued at $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the topic of a number of recent research reports. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Bank of America increased their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three equities 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’s stock. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Trading Up 1.5 %

IBM opened at $226.25 on Tuesday. The company’s 50 day simple moving average is $219.63 and its two-hundred day simple moving average is $196.00. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market capitalization of $209.20 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 5.01 and a beta of 0.71. International Business Machines Co. has a 1-year low of $154.75 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. Analysts expect that International Business Machines Co. will post 10.12 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. Stockholders 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 2.95%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, 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 SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

International Business Machines 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.