International Business Machines Co. (NYSE:IBM) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 153,164 shares of the technology company’s stock after selling 7,095 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in International Business Machines were worth $33,862,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ellenbecker Investment Group raised its position in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares in the last quarter. Goldstein Advisors LLC raised its holdings 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 worth $269,000 after purchasing an additional 47 shares in the last quarter. Vertex Planning Partners LLC raised 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 in the last quarter. Sollinda Capital Management LLC raised its holdings in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after purchasing an additional 49 shares in the last quarter. Finally, Lansing Street Advisors raised its holdings in shares of International Business Machines by 3.4% in the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $232.26 on Friday. The company’s 50 day moving average price is $222.57 and its 200 day moving average price is $201.12. International Business Machines Co. has a 52 week low of $157.88 and a 52 week high of $239.35. The company has a market capitalization of $214.76 billion, a PE ratio of 33.81, a PEG ratio of 5.17 and a beta of 0.73. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last posted its 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. The company had revenue of $14.97 billion during 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 revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. Research analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IBM. BMO Capital Markets boosted 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. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Evercore ISI boosted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, StockNews.com lowered shares of 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 assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $208.12.

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.