International Business Machines Co. (NYSE:IBM) Position Trimmed by Toronto Dominion Bank

Toronto Dominion Bank reduced its holdings in International Business Machines Co. (NYSE:IBM) by 18.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 436,192 shares of the technology company’s stock after selling 98,146 shares during the period. Toronto Dominion Bank’s holdings in International Business Machines were worth $96,433,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. Meeder Asset Management Inc. boosted its stake in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines during the 2nd quarter worth $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines during the third quarter valued at $5,117,000. Aljian Capital Management LLC bought a new position in shares of International Business Machines during the third quarter worth about $611,000. Finally, Focused Wealth Management Inc increased its holdings in shares of International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after acquiring an additional 3,887 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on IBM shares. Stifel Nicolaus upped their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bernstein Bank raised 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. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Trading Up 0.8 %

NYSE IBM opened at $231.76 on Wednesday. The firm’s fifty day simple moving average is $221.92 and its 200-day simple moving average is $200.27. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 1-year low of $157.88 and a 1-year high of $239.35. The company has a market capitalization of $214.30 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 5.16 and a beta of 0.73.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is currently 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.