International Business Machines Co. (NYSE:IBM) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 58.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,823 shares of the technology company’s stock after selling 3,934 shares during the period. KG&L Capital Management LLC’s holdings in International Business Machines were worth $621,000 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 IBM. Nordea Investment Management AB boosted its holdings in International Business Machines by 3.3% in the first quarter. Nordea Investment Management AB now owns 66,975 shares of the technology company’s stock valued at $12,790,000 after purchasing an additional 2,125 shares during the last quarter. Jennison Associates LLC boosted its holdings in International Business Machines by 28.1% in the first quarter. Jennison Associates LLC now owns 447,609 shares of the technology company’s stock valued at $85,475,000 after purchasing an additional 98,297 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in International Business Machines by 1.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 29,292 shares of the technology company’s stock valued at $5,594,000 after purchasing an additional 393 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in International Business Machines in the first quarter valued at $226,000. Finally, Comprehensive Financial Consultants Institutional Inc. purchased a new stake in International Business Machines in the first quarter valued at $222,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IBM. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Bernstein Bank increased their target price on shares of 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. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Up 0.7 %

IBM stock opened at $208.25 on Monday. The company has a market cap of $192.56 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 4.64 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $144.84 and a 12 month high of $237.37. The firm has a 50-day moving average of $216.84 and a two-hundred day moving average of $191.35.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during 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%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.21%. International Business Machines’s dividend payout ratio is currently 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.