International Business Machines Co. (NYSE:IBM) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 11.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,028 shares of the technology company's stock after selling 3,126 shares during the quarter. King Luther Capital Management Corp's holdings in International Business Machines were worth $5,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of IBM. Legal & General Group Plc lifted its position in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company's stock valued at $1,467,974,000 after buying an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company's stock valued at $829,431,000 after purchasing an additional 304,390 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company's stock valued at $671,352,000 after buying an additional 2,118,165 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company's stock worth $602,819,000 after buying an additional 12,400 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $0.61 during trading on Friday, hitting $223.02. The company had a trading volume of 5,320,339 shares, compared to its average volume of 4,238,078. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 12 month low of $153.92 and a 12 month high of $237.37. The stock has a 50 day simple moving average of $219.29 and a 200 day simple moving average of $194.83. The firm has a market capitalization of $206.21 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 4.72 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 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 firm had revenue of $14.97 billion during the quarter, compared to analysts' expectations of $15.08 billion. During the same period in the previous year, the company earned $2.20 EPS. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Co. will post 10.12 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, 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 3.00%. International Business Machines's payout ratio is presently 97.23%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley cut their target price on International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a report on Monday, October 21st. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a research report on Thursday, October 24th. DZ Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $208.12.

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.