Intech Investment Management LLC Lowers Position in International Business Machines Co. (NYSE:IBM)

Intech Investment Management LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 24.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,169 shares of the technology company’s stock after selling 78,866 shares during the period. International Business Machines makes up approximately 0.6% of Intech Investment Management LLC’s holdings, making the stock its 25th largest holding. Intech Investment Management LLC’s holdings in International Business Machines were worth $52,875,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IBM. EP Wealth Advisors LLC raised its position in International Business Machines by 7.3% during the first quarter. EP Wealth Advisors LLC now owns 28,273 shares of the technology company’s stock valued at $5,399,000 after purchasing an additional 1,935 shares in the last quarter. Axxcess Wealth Management LLC raised its position in International Business Machines by 5.3% during the first quarter. Axxcess Wealth Management LLC now owns 16,174 shares of the technology company’s stock valued at $3,089,000 after purchasing an additional 817 shares in the last quarter. Capital World Investors purchased a new stake in International Business Machines during the first quarter valued at about $61,865,000. Canada Pension Plan Investment Board raised its position in International Business Machines by 4,917.8% during the first quarter. Canada Pension Plan Investment Board now owns 281,501 shares of the technology company’s stock valued at $53,755,000 after purchasing an additional 275,891 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of International Business Machines during the first quarter valued at about $772,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s 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 directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IBM shares. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group raised their price objective 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. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

IBM stock opened at $214.61 on Thursday. The firm has a 50 day moving average price of $219.07 and a 200-day moving average price of $194.64. International Business Machines Co. has a 52-week low of $153.51 and a 52-week high of $237.37. The firm has a market capitalization of $198.44 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.72 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 business earned $2.20 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. Equities research 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued 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 3.11%. International Business Machines’s payout ratio is 97.23%.

About International Business Machines

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.