MAI Capital Management Lowers Position in International Business Machines Co. (NYSE:IBM)

MAI Capital Management decreased its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,377 shares of the technology company's stock after selling 3,782 shares during the period. MAI Capital Management's holdings in International Business Machines were worth $12,022,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC bought a new stake in shares of International Business Machines during the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC bought a new position in International Business Machines in the 3rd quarter valued at $5,117,000. Aljian Capital Management LLC bought a new position in International Business Machines during the third quarter valued at about $611,000. Focused Wealth Management Inc increased its stake in shares of 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 during the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of International Business Machines by 4.5% in the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company's stock valued at $30,992,000 after buying an additional 6,004 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of 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. Hsbc Global Res raised shares of International Business Machines to a "moderate sell" rating in a report on Friday, July 26th. The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 30th. StockNews.com upgraded International Business Machines from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group raised their target price on 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, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $208.12.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company's stock.

International Business Machines Price Performance

NYSE:IBM traded up $2.16 during mid-day trading on Tuesday, reaching $210.25. The stock had a trading volume of 2,845,783 shares, compared to its average volume of 4,227,276. International Business Machines Co. has a one year low of $152.35 and a one year high of $237.37. 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 50 day moving average price of $218.88 and a two-hundred day moving average price of $194.18. The stock has a market capitalization of $194.41 billion, a P/E ratio of 30.21, a P/E/G ratio of 4.60 and a beta of 0.71.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analysts' expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm's revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. As a group, analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

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

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.