International Business Machines Co. (NYSE:IBM) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC trimmed its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 71.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,755 shares of the technology company's stock after selling 4,320 shares during the quarter. Tranquility Partners LLC's holdings in International Business Machines were worth $388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth about $7,160,000. Philip James Wealth Mangement LLC bought a new stake in shares of International Business Machines during the 3rd quarter worth approximately $5,117,000. Aljian Capital Management LLC bought a new stake in shares of International Business Machines during the 3rd quarter worth approximately $611,000. Focused Wealth Management Inc increased its position in International Business Machines by 52.2% during the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company's stock worth $2,504,000 after purchasing an additional 3,887 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in International Business Machines by 4.5% during the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company's stock worth $30,992,000 after purchasing an additional 6,004 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent research reports. Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a research report on Thursday, October 3rd. BMO Capital Markets increased 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 research note on Thursday, October 24th. Stifel Nicolaus raised 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 note on Wednesday, October 16th. Evercore ISI increased their target price 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, Hsbc Global Res upgraded shares of International Business Machines to a "moderate sell" rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $208.12.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly 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. 0.07% of the stock is owned by insiders.

International Business Machines Stock Performance

Shares of IBM traded up $2.22 during mid-day trading on Tuesday, reaching $210.31. The company had a trading volume of 2,859,740 shares, compared to its average volume of 4,227,334. The stock has a market capitalization of $194.46 billion, a P/E ratio of 30.61, a PEG ratio of 4.60 and a beta of 0.71. The stock has a 50 day moving average of $218.98 and a two-hundred day moving average of $194.50. 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 Co. has a 52-week low of $152.35 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $14.97 billion during the quarter, compared to analysts' expectations of $15.08 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The business's revenue was up 1.5% compared to the same quarter last year. On average, analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.18%. International Business Machines's dividend payout ratio (DPR) is 97.23%.

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.