Zurcher Kantonalbank Zurich Cantonalbank Trims Position in International Business Machines Co. (NYSE:IBM)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in International Business Machines Co. (NYSE:IBM) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,150 shares of the technology company’s stock after selling 7,401 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in International Business Machines were worth $79,401,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Coppell Advisory Solutions Corp. bought a new stake in International Business Machines during the 1st quarter valued at approximately $224,000. iA Global Asset Management Inc. purchased a new stake in International Business Machines in the first quarter worth $663,000. First City Capital Management Inc. raised its holdings in International Business Machines by 1.5% in the first quarter. First City Capital Management Inc. now owns 10,262 shares of the technology company’s stock worth $1,960,000 after purchasing an additional 151 shares in the last quarter. PGGM Investments boosted its holdings in shares of International Business Machines by 115.6% during the 1st quarter. PGGM Investments now owns 50,732 shares of the technology company’s stock valued at $9,688,000 after buying an additional 27,201 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of International Business Machines by 340.3% in the 1st quarter. Cetera Investment Advisers now owns 293,448 shares of the technology company’s stock worth $56,037,000 after buying an additional 226,802 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.8 %

International Business Machines stock opened at $226.99 on Thursday. The stock has a market cap of $209.89 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 5.08 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a fifty day moving average of $220.17 and a 200 day moving average of $196.64. International Business Machines Co. has a one year low of $154.86 and a one year high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the business earned $2.20 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

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 issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’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 value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on IBM. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Evercore ISI raised their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley reduced their price target 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 upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $208.12.

About International Business Machines

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.