Connor Clark & Lunn Investment Management Ltd. Sells 452,426 Shares of International Business Machines Co. (NYSE:IBM)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 76.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 142,217 shares of the technology company's stock after selling 452,426 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in International Business Machines were worth $31,441,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% during the 3rd 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 purchased a new stake in International Business Machines during the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the 2nd quarter worth $36,000. Wolff Wiese Magana LLC raised its holdings in International Business Machines by 37.0% in 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 worth $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several research reports. UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a "sell" rating in a report on Wednesday, September 4th. The Goldman Sachs Group increased their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Evercore ISI increased their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, International Business Machines presently has an average rating of "Hold" and a consensus target price of $208.12.

International Business Machines Stock Performance

Shares of IBM traded up $4.35 on Wednesday, reaching $214.60. The company's stock had a trading volume of 4,561,605 shares, compared to its average volume of 4,228,829. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market capitalization of $198.43 billion, a P/E ratio of 30.68, a PEG ratio of 4.60 and a beta of 0.71. The stock's 50 day simple moving average is $218.98 and its two-hundred day simple moving average is $194.50. International Business Machines Co. has a 12-month low of $153.51 and a 12-month high of $237.37.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the firm posted $2.20 earnings per share. The firm's revenue was up 1.5% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines's dividend payout ratio is currently 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred 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 sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.07% of the company's stock.

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.