Courier Capital LLC Sells 10,777 Shares of International Business Machines Co. (NYSE:IBM)

Courier Capital LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 21.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 38,675 shares of the technology company’s stock after selling 10,777 shares during the quarter. Courier Capital LLC’s holdings in International Business Machines were worth $8,502,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of International Business Machines in the 3rd quarter valued at $573,306,000. State Street Corp increased its position in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after acquiring an additional 536,785 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling 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 transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group increased their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price target on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $214.88.

International Business Machines Stock Down 1.1 %

Shares of International Business Machines stock traded down $2.36 on Monday, reaching $217.39. 3,709,705 shares of the company were exchanged, compared to its average volume of 3,206,479. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. 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 50-day moving average of $221.92 and a 200 day moving average of $209.52. The company has a market capitalization of $201.01 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.