Penserra Capital Management LLC Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Penserra Capital Management LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 94.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,330 shares of the technology company’s stock after selling 569,821 shares during the quarter. Penserra Capital Management LLC’s holdings in International Business Machines were worth $7,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truepoint Inc. purchased a new stake in shares of International Business Machines in the third quarter valued at about $292,000. KKM Financial LLC grew its stake in shares of International Business Machines by 6.6% in the 3rd quarter. KKM Financial LLC now owns 13,973 shares of the technology company’s stock valued at $3,089,000 after buying an additional 863 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of International Business Machines by 10.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 24,991 shares of the technology company’s stock worth $5,525,000 after buying an additional 2,298 shares during the last quarter. Advisory Services & Investments LLC purchased a new stake in shares of International Business Machines during the 3rd quarter valued at approximately $420,000. Finally, Cerity Partners LLC lifted its holdings in International Business Machines by 0.9% in the third quarter. Cerity Partners LLC now owns 299,691 shares of the technology company’s stock valued at $66,256,000 after acquiring an additional 2,648 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

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 shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Stock Up 0.3 %

Shares of NYSE:IBM opened at $222.97 on Monday. 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 Co. has a fifty-two week low of $153.92 and a fifty-two week high of $237.37. The stock has a market cap of $206.17 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71. The firm’s 50 day moving average price is $219.45 and its 200 day moving average price is $195.57.

International Business Machines (NYSE:IBM) last issued 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. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America lifted their target price 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. UBS Group lifted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, 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 note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued 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 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.