International Business Machines Co. (NYSE:IBM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,175,436 shares of the technology company's stock after selling 6,014 shares during the period. PNC Financial Services Group Inc. owned approximately 0.13% of International Business Machines worth $259,865,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new stake in International Business Machines in the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC lifted its stake in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company's stock worth $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of International Business Machines during the third quarter valued at approximately $43,000. Institutional investors own 58.96% of the company's stock.

Insider Transactions at International Business Machines

In related 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 value of $774,720.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company's stock.

International Business Machines Stock Up 1.1 %

IBM stock traded up $2.22 during trading on Tuesday, reaching $210.31. 2,859,740 shares of the company traded hands, compared to its average volume of 4,227,334. The business has a 50 day simple moving average of $218.88 and a 200 day simple moving average of $194.18. International Business Machines Co. has a 12 month low of $152.35 and a 12 month 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 company has a market capitalization of $194.46 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 4.60 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 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 business had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.08 billion. During the same period last year, the business earned $2.20 EPS. The company's revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 3.18%. International Business Machines's dividend payout ratio is presently 97.23%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on IBM shares. BMO Capital Markets raised their price target on 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. Jefferies Financial Group lifted their target price on International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, September 11th. DZ Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lowered their price objective on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a research report on Thursday, October 24th. 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $208.12.

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.