International Business Machines Co. (NYSE:IBM) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 239,460 shares of the technology company’s stock after selling 5,540 shares during the period. MetLife Investment Management LLC’s holdings in International Business Machines were worth $52,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Ancora Advisors LLC raised its stake in shares of International Business Machines by 2.3% during the 1st quarter. Ancora Advisors LLC now owns 8,214 shares of the technology company’s stock valued at $1,569,000 after buying an additional 183 shares during the last quarter. Meiji Yasuda Life Insurance Co purchased a new stake in International Business Machines in the 1st quarter worth approximately $226,000. Coppell Advisory Solutions Corp. purchased a new position in shares of International Business Machines during the 1st quarter valued at approximately $224,000. iA Global Asset Management Inc. acquired a new position in shares of International Business Machines in the 1st quarter valued at $663,000. Finally, New Covenant Trust Company N.A. purchased a new stake in International Business Machines during the first quarter worth $125,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

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

International Business Machines Stock Performance

IBM traded down $0.95 during trading on Wednesday, hitting $227.88. 297,509 shares of the stock were exchanged, compared to its average volume of 4,234,485. The firm has a market capitalization of $210.71 billion, a P/E ratio of 33.31, a PEG ratio of 5.08 and a beta of 0.71. The stock has a fifty day moving average price of $219.93 and a two-hundred day moving average price of $196.43. 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 1-year low of $154.86 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $2.20 EPS. As a group, sell-side analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed 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 2.93%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Analysts Set New Price Targets

Several research firms have recently issued reports on IBM. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Morgan Stanley reduced their price objective on shares of 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. BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Bank of America upped their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $208.12.

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.