International Business Machines Co. (NYSE:IBM) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 94.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 34,330 shares of the technology company’s stock after selling 569,821 shares during the quarter. Penserra Capital Management LLC’s holdings in International Business Machines were worth $7,588,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Truepoint Inc. acquired a new position in International Business Machines in the 3rd quarter valued at $292,000. KKM Financial LLC increased its stake in International Business Machines by 6.6% in the third quarter. KKM Financial LLC now owns 13,973 shares of the technology company’s stock valued at $3,089,000 after purchasing an additional 863 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in International Business Machines by 10.1% during the third quarter. Kingsview Wealth Management LLC now owns 24,991 shares of the technology company’s stock worth $5,525,000 after buying an additional 2,298 shares during the period. Advisory Services & Investments LLC acquired a new stake in International Business Machines in the 3rd quarter worth about $420,000. Finally, Cerity Partners LLC grew its holdings in International Business Machines by 0.9% in the 3rd quarter. Cerity Partners LLC now owns 299,691 shares of the technology company’s stock valued at $66,256,000 after buying an additional 2,648 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price target 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Performance

International Business Machines stock opened at $222.97 on Monday. 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’s fifty day moving average price is $219.45 and its 200 day moving average price is $195.57. The company has a market capitalization of $206.17 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71. International Business Machines Co. has a 12-month low of $153.92 and a 12-month high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

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 dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was 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 approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

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.