Thrivent Financial for Lutherans Has $296.47 Million Holdings in International Business Machines Co. (NYSE:IBM)

Thrivent Financial for Lutherans trimmed its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 4.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,341,021 shares of the technology company's stock after selling 60,777 shares during the quarter. International Business Machines makes up 0.6% of Thrivent Financial for Lutherans' holdings, making the stock its 15th largest holding. Thrivent Financial for Lutherans owned about 0.15% of International Business Machines worth $296,472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Claro Advisors LLC boosted its position in International Business Machines by 18.2% during the third quarter. Claro Advisors LLC now owns 6,693 shares of the technology company's stock valued at $1,480,000 after purchasing an additional 1,031 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of International Business Machines in the third quarter worth about $237,000. Tower Bridge Advisors lifted its position in shares of International Business Machines by 22.5% in the third quarter. Tower Bridge Advisors now owns 13,484 shares of the technology company's stock worth $2,981,000 after buying an additional 2,475 shares during the last quarter. Adero Partners LLC acquired a new stake in shares of International Business Machines in the third quarter worth about $289,000. Finally, Atlanta Consulting Group Advisors LLC lifted its position in shares of International Business Machines by 4.1% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 1,703 shares of the technology company's stock worth $376,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Buying and Selling

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

International Business Machines Price Performance

Shares of NYSE:IBM traded down $4.00 during midday trading on Friday, reaching $204.99. The company's stock had a trading volume of 3,986,460 shares, compared to its average volume of 4,693,159. International Business Machines Co. has a fifty-two week low of $152.13 and a fifty-two week high of $237.37. The company has a market capitalization of $189.54 billion, a P/E ratio of 29.84, a P/E/G ratio of 4.60 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The business's fifty day simple moving average is $218.79 and its 200-day simple moving average is $193.88.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm 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%. International Business Machines's revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, equities research analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.26%. International Business Machines's payout ratio is 97.23%.

Analyst Ratings Changes

A number of brokerages have weighed in on IBM. Hsbc Global Res raised International Business Machines to a "moderate sell" rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price objective 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 price objective 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. DZ Bank lowered International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Finally, Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a research note on Thursday, October 3rd. Three investment 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. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus price target 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.