Norris Perne & French LLP MI Sells 50 Shares of International Business Machines Co. (NYSE:IBM)

Norris Perne & French LLP MI reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 1.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,136 shares of the technology company’s stock after selling 50 shares during the quarter. Norris Perne & French LLP MI’s holdings in International Business Machines were worth $693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of International Business Machines by 6.7% in the 1st 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 during the last quarter. Legal & General Group Plc lifted its stake in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the period. Dimensional Fund Advisors LP increased its stake in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Jefferies Financial Group raised their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Morgan Stanley reduced their target price on shares of 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, BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Three investment 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

Shares of IBM opened at $206.72 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’s fifty day moving average price is $216.60 and its 200-day moving average price is $191.05. International Business Machines Co. has a 1-year low of $142.59 and a 1-year high of $237.37. The firm has a market capitalization of $190.42 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 4.28 and a beta of 0.70.

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 analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $2.20 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 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.