Richard Bernstein Advisors LLC Sells 8,748 Shares of International Business Machines Corporation $IBM

Richard Bernstein Advisors LLC reduced its position in International Business Machines Corporation (NYSE:IBM) by 49.8% during the third quarter, Holdings Channel reports. The institutional investor owned 8,830 shares of the technology company’s stock after selling 8,748 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in International Business Machines were worth $2,491,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IBM. Brighton Jones LLC lifted its stake in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of International Business Machines by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after acquiring an additional 186 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of International Business Machines by 65.7% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 1,501 shares of the technology company’s stock worth $443,000 after acquiring an additional 595 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in International Business Machines by 5.1% during the second quarter. Los Angeles Capital Management LLC now owns 4,750 shares of the technology company’s stock worth $1,400,000 after acquiring an additional 231 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. acquired a new stake in International Business Machines during the 2nd quarter valued at $210,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, Director Michael Miebach acquired 434 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the acquisition, the director owned 434 shares in the company, valued at approximately $101,265.22. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David N. Farr bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were acquired at an average price of $304.00 per share, with a total value of $304,000.00. Following the purchase, the director owned 9,258 shares of the company’s stock, valued at $2,814,432. The trade was a 12.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 1,484 shares of company stock valued at $417,157 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBM. Bank of America upped their price objective on International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $350.00 price objective on shares of International Business Machines in a research report on Thursday, January 29th. Oppenheimer set a $380.00 price target on shares of International Business Machines and gave the company an “outperform” rating in a report on Thursday, January 29th. Finally, Dbs Bank upgraded shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $320.87.

International Business Machines Trading Down 2.1%

Shares of IBM stock opened at $253.38 on Tuesday. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67. The company has a 50 day moving average of $280.69 and a 200-day moving average of $284.68. The firm has a market cap of $237.68 billion, a P/E ratio of 22.72, a PEG ratio of 2.59 and a beta of 0.73.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.33 by $0.19. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The business had revenue of $19.69 billion during the quarter, compared to the consensus estimate of $19.23 billion. During the same quarter in the previous year, the firm earned $3.92 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 60.27%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.