Palisade Asset Management LLC Has $22.87 Million Position in International Business Machines Co. (NYSE:IBM)

Palisade Asset Management LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 0.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,455 shares of the technology company’s stock after selling 320 shares during the period. International Business Machines makes up 2.2% of Palisade Asset Management LLC’s holdings, making the stock its 10th biggest holding. Palisade Asset Management LLC’s holdings in International Business Machines were worth $22,872,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hazlett Burt & Watson Inc. raised its holdings in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in International Business Machines in the third quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines during the 2nd quarter worth $36,000. Wolff Wiese Magana LLC grew its position in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines during the third quarter worth about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The stock was 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 is accessible through the SEC website. 0.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on IBM shares. Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley lowered their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

NYSE:IBM opened at $223.02 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market capitalization of $206.21 billion, a P/E ratio of 32.46, a P/E/G ratio of 4.99 and a beta of 0.71. International Business Machines Co. has a 1 year low of $153.92 and a 1 year high of $237.37. The business has a fifty day simple moving average of $219.45 and a two-hundred day simple moving average of $195.21.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 analyst estimates of $15.08 billion. During the same quarter last year, the business earned $2.20 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

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.