ING Groep NV Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

ING Groep NV cut its position in International Business Machines Co. (NYSE:IBM - Free Report) by 45.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 304,474 shares of the technology company's stock after selling 252,045 shares during the period. ING Groep NV's holdings in International Business Machines were worth $67,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines in the second quarter worth $7,160,000. Philip James Wealth Mangement LLC purchased a new position in International Business Machines during the third quarter valued at $5,117,000. Focused Wealth Management Inc grew its stake in International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company's stock valued at $2,504,000 after acquiring an additional 3,887 shares in the last quarter. QRG Capital Management Inc. grew its stake in International Business Machines by 4.5% during the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company's stock valued at $30,992,000 after acquiring an additional 6,004 shares in the last quarter. Finally, F M Investments LLC grew its stake in International Business Machines by 39.6% during the third quarter. F M Investments LLC now owns 61,938 shares of the technology company's stock valued at $13,696,000 after acquiring an additional 17,554 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.9 %

IBM traded down $1.91 on Thursday, reaching $209.01. 6,370,831 shares of the company traded hands, compared to its average volume of 4,238,317. International Business Machines Co. has a one year low of $150.40 and a one year high of $237.37. The firm has a fifty day simple moving average of $218.58 and a two-hundred day simple moving average of $193.11. The company has a market cap of $193.26 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.20%. International Business Machines's payout ratio is 97.23%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IBM. BMO Capital Markets raised their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a research note on Thursday, October 24th. Hsbc Global Res raised shares of International Business Machines to a "moderate sell" rating in a research note on Friday, July 26th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $208.12.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm's 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 transaction, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by company insiders.

About International Business Machines

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.