International Business Machines Co. (NYSE:IBM) Shares Sold by Poplar Forest Capital LLC

Poplar Forest Capital LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 155,501 shares of the technology company’s stock after selling 1,519 shares during the quarter. International Business Machines accounts for about 4.7% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 7th largest holding. Poplar Forest Capital LLC’s holdings in International Business Machines were worth $34,378,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBM. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after buying an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in International Business Machines by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 2.9 %

Shares of NYSE IBM opened at $213.58 on Thursday. International Business Machines Co. has a one year low of $145.28 and a one year high of $237.37. The firm has a market capitalization of $197.49 billion, a PE ratio of 31.09, a PEG ratio of 4.64 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The business has a 50-day moving average price of $217.49 and a two-hundred day moving average price of $191.86.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company posted $2.20 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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 paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analysts Set New Price Targets

IBM has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group raised their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Bernstein Bank raised their price objective 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. BMO Capital Markets increased their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Finally, Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $208.12.

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.