Commerce Bank Sells 6,832 Shares of International Business Machines Co. (NYSE:IBM)

Commerce Bank lessened its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,982 shares of the technology company's stock after selling 6,832 shares during the quarter. Commerce Bank's holdings in International Business Machines were worth $35,369,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. raised its position in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC acquired a new position in International Business Machines during the third quarter worth $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the 2nd quarter valued at about $36,000. Wolff Wiese Magana LLC grew its holdings in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company's stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in International Business Machines in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. UBS Group upped their price objective on International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a research report on Wednesday, September 4th. Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a research report on Thursday, October 3rd. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, International Business Machines has an average rating of "Hold" and a consensus target price of $208.12.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company's stock.

International Business Machines Trading Up 1.4 %

International Business Machines stock traded up $2.91 during trading hours on Wednesday, hitting $213.16. The company had a trading volume of 2,523,893 shares, compared to its average volume of 4,219,772. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $197.10 billion, a P/E ratio of 30.68, a P/E/G ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 1 year low of $153.51 and a 1 year high of $237.37. The company has a 50-day moving average price of $218.98 and a two-hundred day moving average price of $194.50.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the business earned $2.20 EPS. International Business Machines's revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.13%. International Business Machines's payout ratio is 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.