Platform Technology Partners Sells 70 Shares of International Business Machines Co. (NYSE:IBM)

Platform Technology Partners lowered its holdings in International Business Machines Co. (NYSE:IBM) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,379 shares of the technology company’s stock after selling 70 shares during the period. Platform Technology Partners’ holdings in International Business Machines were worth $747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IBM. Vanguard Group Inc. grew its position in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of 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 purchasing an additional 2,702,340 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans raised its stake in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in 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 and hedge funds own 58.96% of the company’s stock.

Insiders Place Their Bets

In other 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 sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on IBM shares. UBS Group raised their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Jefferies Financial Group boosted 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. Finally, Morgan Stanley reduced their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

IBM stock opened at $213.62 on Tuesday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52-week low of $147.35 and a 52-week high of $237.37. The company has a market capitalization of $197.52 billion, a P/E ratio of 31.09, a PEG ratio of 4.80 and a beta of 0.71. The company has a fifty day moving average price of $218.25 and a 200-day moving average price of $192.68.

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 the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for 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 business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 EPS. As a group, equities analysts expect that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

International Business Machines 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.