Tompkins Financial Corp Sells 7,452 Shares of International Business Machines Co. (NYSE:IBM)

Tompkins Financial Corp reduced its position in International Business Machines Co. (NYSE:IBM - Free Report) by 45.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,906 shares of the technology company's stock after selling 7,452 shares during the quarter. Tompkins Financial Corp's holdings in International Business Machines were worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Lindbrook Capital LLC lifted its position in shares of International Business Machines by 5.5% during the third quarter. Lindbrook Capital LLC now owns 4,812 shares of the technology company's stock worth $1,064,000 after acquiring an additional 250 shares in the last quarter. Bridges Investment Management Inc. raised its stake in shares of International Business Machines by 2.6% during the 3rd quarter. Bridges Investment Management Inc. now owns 12,759 shares of the technology company's stock valued at $2,821,000 after purchasing an additional 321 shares during the period. Klingman & Associates LLC lifted its holdings in International Business Machines by 30.1% during the 3rd quarter. Klingman & Associates LLC now owns 4,552 shares of the technology company's stock worth $1,006,000 after purchasing an additional 1,054 shares in the last quarter. Assetmark Inc. boosted its stake in International Business Machines by 7.4% in the 3rd quarter. Assetmark Inc. now owns 38,478 shares of the technology company's stock worth $8,507,000 after purchasing an additional 2,640 shares during the period. Finally, Verdence Capital Advisors LLC grew its holdings in International Business Machines by 1.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 19,102 shares of the technology company's stock valued at $4,223,000 after buying an additional 241 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's 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 directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.07% of the company's stock.

International Business Machines Trading Up 0.0 %

Shares of International Business Machines stock traded up $0.03 during trading on Friday, reaching $213.72. The company's stock had a trading volume of 3,201,038 shares, compared to its average volume of 4,595,376. The company has a market cap of $197.62 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 4.80 and a beta of 0.71. The firm's 50-day moving average is $218.02 and its two-hundred day moving average is $192.24. International Business Machines Co. has a 52-week low of $145.28 and a 52-week high of $237.37. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.08 billion. During the same period last year, the firm earned $2.20 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines's payout ratio is currently 97.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Evercore ISI raised their price objective 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. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a report on Thursday, October 24th. UBS Group boosted their price target 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. Hsbc Global Res upgraded International Business Machines to a "moderate sell" rating in a research report on Friday, July 26th. Finally, Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average 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.