Thrivent Financial for Lutherans Sells 60,777 Shares of International Business Machines Co. (NYSE:IBM)

Thrivent Financial for Lutherans lowered its position in International Business Machines Co. (NYSE:IBM) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,341,021 shares of the technology company’s stock after selling 60,777 shares during the quarter. International Business Machines comprises 0.6% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 15th largest holding. Thrivent Financial for Lutherans owned approximately 0.15% of International Business Machines worth $296,472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Claro Advisors LLC lifted its stake in shares of International Business Machines by 18.2% during the 3rd quarter. Claro Advisors LLC now owns 6,693 shares of the technology company’s stock valued at $1,480,000 after buying an additional 1,031 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in International Business Machines during the 3rd quarter valued at $237,000. Tower Bridge Advisors lifted its position in shares of International Business Machines by 22.5% during the third quarter. Tower Bridge Advisors now owns 13,484 shares of the technology company’s stock worth $2,981,000 after acquiring an additional 2,475 shares in the last quarter. Adero Partners LLC bought a new position in shares of International Business Machines in the third quarter worth $289,000. Finally, Atlanta Consulting Group Advisors LLC grew its position in shares of International Business Machines by 4.1% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 1,703 shares of the technology company’s stock valued at $376,000 after purchasing an additional 67 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IBM. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Morgan Stanley reduced their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets boosted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $204.99 on Friday. The firm has a market capitalization of $189.54 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 4.60 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. International Business Machines Co. has a 12 month low of $152.13 and a 12 month high of $237.37. The business’s 50-day moving average price is $218.79 and its 200-day moving average price is $193.67.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $2.20 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

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.