Insight Inv LLC Sells 575 Shares of International Business Machines Co. (NYSE:IBM)

Insight Inv LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,104 shares of the technology company’s stock after selling 575 shares during the quarter. International Business Machines comprises about 2.6% of Insight Inv LLC’s investment portfolio, making the stock its 6th biggest position. Insight Inv LLC’s holdings in International Business Machines were worth $3,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brophy Wealth Management LLC purchased a new stake in shares of International Business Machines during the third quarter valued at approximately $559,000. LRI Investments LLC raised its position in shares of International Business Machines by 7.5% in the 3rd quarter. LRI Investments LLC now owns 4,416 shares of the technology company’s stock valued at $923,000 after purchasing an additional 310 shares in the last quarter. Drucker Wealth 3.0 LLC boosted its stake in shares of International Business Machines by 24.7% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 1,905 shares of the technology company’s stock valued at $421,000 after buying an additional 377 shares during the last quarter. SGL Investment Advisors Inc. acquired a new stake in International Business Machines in the third quarter valued at $4,535,000. Finally, EWA LLC increased its position in shares of International Business Machines by 6.6% in the 3rd quarter. EWA LLC now owns 1,174 shares of the technology company’s stock worth $245,000 after purchasing an additional 73 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI lifted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Bernstein Bank upped their price target on shares of 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. Finally, DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. 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. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.12.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was 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 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 document filed with the SEC, which is accessible through this hyperlink. 0.07% of the stock is owned by corporate insiders.

International Business Machines Stock Performance

Shares of IBM opened at $230.02 on Tuesday. The firm has a market cap of $212.69 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 5.34 and a beta of 0.73. International Business Machines Co. has a 12 month low of $157.88 and a 12 month high of $239.35. The company’s fifty day moving average is $221.92 and its 200-day moving average is $200.27. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities 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 $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is 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.