Te Ahumairangi Investment Management Ltd Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Te Ahumairangi Investment Management Ltd trimmed its position in International Business Machines Co. (NYSE:IBM - Free Report) by 16.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 33,340 shares of the technology company's stock after selling 6,380 shares during the period. International Business Machines accounts for approximately 1.3% of Te Ahumairangi Investment Management Ltd's investment portfolio, making the stock its 24th biggest position. Te Ahumairangi Investment Management Ltd's holdings in International Business Machines were worth $7,329,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ellenbecker Investment Group grew its position in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock worth $453,000 after buying an additional 46 shares during the period. Goldstein Advisors LLC increased its stake in shares of International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock valued at $269,000 after purchasing an additional 47 shares in the last quarter. Vertex Planning Partners LLC lifted its holdings in shares of International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company's stock valued at $298,000 after purchasing an additional 47 shares during the last quarter. Sollinda Capital Management LLC boosted its position in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company's stock worth $301,000 after purchasing an additional 49 shares in the last quarter. Finally, Lansing Street Advisors boosted its position in shares of International Business Machines by 3.4% in the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company's stock worth $332,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBM. BMO Capital Markets lifted their price objective on 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. 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 research note on Monday, October 21st. 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. Morgan Stanley decreased 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 report on Thursday, October 24th. Finally, Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and an average price target of $208.12.

International Business Machines Stock Performance

IBM traded up $2.14 during midday trading on Thursday, reaching $232.26. The company had a trading volume of 4,509,666 shares, compared to its average volume of 4,234,099. The business has a 50-day moving average of $222.38 and a two-hundred day moving average of $200.91. The company has a market cap of $214.76 billion, a P/E ratio of 33.49, a P/E/G ratio of 5.16 and a beta of 0.73. International Business Machines Co. has a 1 year low of $157.88 and a 1 year high of $239.35. 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 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company's revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. As a group, equities research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines's dividend payout ratio (DPR) is currently 97.23%.

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.