International Business Machines Co. (NYSE:IBM) Stake Decreased by Palisade Asset Management LLC

Palisade Asset Management LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 0.3% in the 3rd quarter, Holdings Channel reports. The fund owned 103,455 shares of the technology company’s stock after selling 320 shares during the quarter. International Business Machines comprises about 2.2% of Palisade Asset Management LLC’s holdings, making the stock its 10th largest position. 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 institutional investors have also added to or reduced their stakes in the company. Ellenbecker Investment Group grew its position in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after acquiring an additional 46 shares in the last quarter. Goldstein Advisors LLC lifted its stake in shares of International Business Machines by 4.0% in the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the last quarter. Vertex Planning Partners LLC boosted its holdings in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after purchasing an additional 47 shares during the period. Sollinda Capital Management LLC increased its position in shares of International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the last quarter. Finally, Lansing Street Advisors lifted its position in International Business Machines by 3.4% in the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after buying an additional 49 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.3 %

Shares of International Business Machines stock opened at $223.02 on Friday. International Business Machines Co. has a 1 year low of $153.92 and a 1 year high of $237.37. 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 stock has a market cap of $206.21 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 4.99 and a beta of 0.71. The firm’s 50-day moving average is $219.45 and its two-hundred day moving average is $195.21.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 10.22% and a return on equity of 40.52%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. As a group, research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

IBM has been the subject of several analyst reports. BMO Capital Markets raised their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley reduced their target price 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 research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $208.12.

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.