International Business Machines Co. (NYSE:IBM) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 5.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 136,383 shares of the technology company’s stock after selling 8,062 shares during the quarter. International Business Machines comprises about 1.7% of Cullinan Associates Inc.’s portfolio, making the stock its 12th largest position. Cullinan Associates Inc.’s holdings in International Business Machines were worth $31,551,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ellenbecker Investment Group raised its position in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after acquiring an additional 46 shares in the last quarter. McAdam LLC boosted its stake in shares of International Business Machines by 1.5% during the 3rd quarter. McAdam LLC now owns 3,570 shares of the technology company’s stock worth $789,000 after acquiring an additional 52 shares in the last quarter. Castleview Partners LLC increased its stake in International Business Machines by 3.7% in the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock valued at $336,000 after purchasing an additional 55 shares in the last quarter. Armbruster Capital Management Inc. boosted its position in International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after purchasing an additional 56 shares in the last quarter. Finally, Aspect Partners LLC grew its holdings in International Business Machines by 11.2% in the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IBM shares. Stifel Nicolaus increased their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Bernstein Bank increased their price target 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. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Down 0.3 %

IBM stock traded down $0.76 during midday trading on Friday, hitting $217.63. 1,108,376 shares of the company’s stock were exchanged, compared to its average volume of 4,208,405. International Business Machines Co. has a 12-month low of $141.58 and a 12-month high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $199.92 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The firm has a 50 day moving average price of $214.67 and a 200-day moving average price of $190.05.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 EPS. On average, analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

International Business Machines Company 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.