Ontario Teachers Pension Plan Board Sells 4,233 Shares of International Business Machines Co. (NYSE:IBM)

Ontario Teachers Pension Plan Board lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 67.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,005 shares of the technology company’s stock after selling 4,233 shares during the period. Ontario Teachers Pension Plan Board’s holdings in International Business Machines were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. First Horizon Advisors Inc. increased its stake in shares of International Business Machines by 1.6% in the third quarter. First Horizon Advisors Inc. now owns 195,789 shares of the technology company’s stock valued at $43,285,000 after buying an additional 3,026 shares during the period. Howe & Rusling Inc. increased its position in International Business Machines by 2.8% during the 3rd quarter. Howe & Rusling Inc. now owns 3,233 shares of the technology company’s stock valued at $715,000 after purchasing an additional 88 shares during the period. Jennison Associates LLC raised its holdings in International Business Machines by 11.5% during the 3rd quarter. Jennison Associates LLC now owns 522,131 shares of the technology company’s stock worth $115,433,000 after purchasing an additional 53,658 shares during the last quarter. MWA Asset Management boosted its stake in shares of International Business Machines by 2.3% in the 3rd quarter. MWA Asset Management now owns 2,745 shares of the technology company’s stock valued at $607,000 after purchasing an additional 63 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of International Business Machines during the third quarter worth $553,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on IBM shares. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. BMO Capital Markets raised their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The stock was 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 in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by insiders.

International Business Machines Stock Performance

Shares of IBM stock opened at $222.30 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 firm has a 50-day moving average of $219.29 and a 200-day moving average of $194.83. International Business Machines Co. has a one year low of $153.92 and a one year high of $237.37. The company has a market cap of $205.55 billion, a P/E ratio of 32.36, a P/E/G ratio of 4.72 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted 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 analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. Equities research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 3.01%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 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.