Norris Perne & French LLP MI Sells 50 Shares of International Business Machines Co. (NYSE:IBM)

Norris Perne & French LLP MI decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 1.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,136 shares of the technology company’s stock after selling 50 shares during the period. Norris Perne & French LLP MI’s holdings in International Business Machines were worth $693,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM opened at $206.72 on Friday. The company’s 50 day moving average is $216.60 and its 200 day moving average is $191.05. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a market cap of $190.42 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 4.28 and a beta of 0.70. International Business Machines Co. has a 12-month low of $142.59 and a 12-month high of $237.37.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.23%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IBM shares. Stifel Nicolaus boosted their target price 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. DZ Bank lowered shares of 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. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.12.

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.