International Business Machines Co. (NYSE:IBM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 27.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,932 shares of the technology company's stock after selling 144,682 shares during the period. Victory Capital Management Inc.'s holdings in International Business Machines were worth $84,880,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Aptus Capital Advisors LLC raised its stake in International Business Machines by 89.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 15,006 shares of the technology company's stock valued at $3,318,000 after purchasing an additional 7,095 shares during the last quarter. Commonwealth Retirement Investments LLC raised its position in shares of International Business Machines by 7.4% in the third quarter. Commonwealth Retirement Investments LLC now owns 15,861 shares of the technology company's stock valued at $3,507,000 after buying an additional 1,091 shares during the last quarter. Cumberland Partners Ltd lifted its stake in shares of International Business Machines by 16.1% in the third quarter. Cumberland Partners Ltd now owns 7,430 shares of the technology company's stock worth $1,643,000 after buying an additional 1,030 shares in the last quarter. Total Investment Management Inc. acquired a new position in International Business Machines during the third quarter worth about $208,000. Finally, Savvy Advisors Inc. grew its stake in International Business Machines by 261.4% during the 3rd quarter. Savvy Advisors Inc. now owns 14,036 shares of the technology company's stock valued at $3,103,000 after acquiring an additional 10,152 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on IBM. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 11th. DZ Bank cut 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 report on Wednesday, October 2nd. UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a "sell" rating in a research report on Wednesday, September 4th. Finally, BMO Capital Markets lifted their target price on shares of 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. 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 data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $208.12.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was 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 of the company's stock, valued at $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Performance

Shares of IBM stock opened at $210.91 on Thursday. International Business Machines Co. has a 52 week low of $149.05 and a 52 week high of $237.37. The firm has a 50 day moving average of $218.58 and a two-hundred day moving average of $193.11. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $195.02 billion, a PE ratio of 30.70, a P/E/G ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS 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 return on equity of 40.52% and a net margin of 10.22%. International Business Machines's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 EPS. On average, research analysts predict that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.17%. International Business Machines's dividend payout ratio (DPR) is 97.23%.

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.