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

Geode Capital Management LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 0.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 20,482,147 shares of the technology company’s stock after selling 43,272 shares during the quarter. Geode Capital Management LLC owned about 2.22% of International Business Machines worth $4,515,312,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Lantz Financial LLC boosted its holdings in International Business Machines by 0.9% in the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock valued at $2,064,000 after purchasing an additional 107 shares during the last quarter. Maia Wealth LLC purchased a new position in International Business Machines during the second quarter valued at approximately $225,000. Diversified Trust Co lifted its holdings in International Business Machines by 30.6% in the second quarter. Diversified Trust Co now owns 15,947 shares of the technology company’s stock valued at $2,758,000 after acquiring an additional 3,738 shares during the period. Great Valley Advisor Group Inc. boosted its position in International Business Machines by 0.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 14,469 shares of the technology company’s stock worth $2,503,000 after purchasing an additional 89 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of International Business Machines by 1,125.6% during the 2nd quarter. ORG Partners LLC now owns 14,315 shares of the technology company’s stock worth $2,507,000 after purchasing an additional 13,147 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. BMO Capital Markets increased 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 research note on Thursday, October 24th. Evercore ISI lifted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Morgan Stanley lowered their price target 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. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Three investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $230.02 on Tuesday. The firm has a market capitalization of $212.69 billion, a P/E ratio of 33.48, a P/E/G ratio of 5.34 and a beta of 0.73. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 52 week low of $157.88 and a 52 week high of $239.35. The firm’s 50 day moving average is $221.92 and its two-hundred day moving average is $200.27.

International Business Machines (NYSE:IBM) last announced its quarterly 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. 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 analyst estimates of $15.08 billion. During the same period last year, the business earned $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.90%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.