Dai ichi Life Insurance Company Ltd Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Dai ichi Life Insurance Company Ltd decreased its holdings in International Business Machines Co. (NYSE:IBM) by 16.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,027 shares of the technology company’s stock after selling 28,860 shares during the period. International Business Machines comprises approximately 0.8% of Dai ichi Life Insurance Company Ltd’s holdings, making the stock its 22nd largest holding. Dai ichi Life Insurance Company Ltd’s holdings in International Business Machines were worth $31,841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Legal & General Group Plc increased its holdings in 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 worth $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. increased its stake in shares of International Business Machines by 6.4% during the second 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 period. Dimensional Fund Advisors LP raised its holdings in shares of International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after acquiring an additional 304,390 shares in the last quarter. Swiss National Bank lifted its stake in International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after acquiring an additional 12,400 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $226.25 on Tuesday. The company has a 50 day simple moving average of $219.63 and a two-hundred day simple moving average of $196.00. The stock has a market cap of $209.20 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 5.01 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 $154.75 and a 12 month high of $237.37.

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

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.95%. International Business Machines’s dividend payout ratio is presently 97.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IBM shares. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report 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 given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’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 directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

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.