Commerce Bank Sells 6,832 Shares of International Business Machines Co. (NYSE:IBM)

Commerce Bank trimmed its stake in International Business Machines Co. (NYSE:IBM) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,982 shares of the technology company’s stock after selling 6,832 shares during the quarter. Commerce Bank’s holdings in International Business Machines were worth $35,369,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IBM. Bessemer Group Inc. lifted its holdings in shares of International Business Machines by 31.8% during the first quarter. Bessemer Group Inc. now owns 71,057 shares of the technology company’s stock valued at $13,569,000 after purchasing an additional 17,144 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in International Business Machines by 25.8% in the first quarter. Lake Street Advisors Group LLC now owns 4,455 shares of the technology company’s stock valued at $851,000 after acquiring an additional 915 shares during the period. Pitcairn Co. lifted its holdings in International Business Machines by 9.4% in the first quarter. Pitcairn Co. now owns 5,180 shares of the technology company’s stock valued at $989,000 after acquiring an additional 444 shares during the period. Evermay Wealth Management LLC lifted its holdings in International Business Machines by 83.4% in the first quarter. Evermay Wealth Management LLC now owns 1,216 shares of the technology company’s stock valued at $232,000 after acquiring an additional 553 shares during the period. Finally, Delap Wealth Advisory LLC bought a new position in International Business Machines in the first quarter valued at about $250,000. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent research reports. The Goldman Sachs Group increased their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group upped their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Morgan Stanley reduced their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $210.31 on Wednesday. The stock has a 50 day moving average of $218.98 and a 200 day moving average of $194.50. International Business Machines Co. has a 12 month low of $152.35 and a 12 month high of $237.37. The firm has a market cap of $194.46 billion, a PE ratio of 30.61, a PEG ratio of 4.60 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 (NYSE:IBM) last posted its quarterly earnings data 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. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company earned $2.20 EPS. On average, research analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company insiders.

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.