International Business Machines Co. (NYSE:IBM) Sees Large Decline in Short Interest

International Business Machines Co. (NYSE:IBM) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 20,980,000 shares, a decline of 11.4% from the October 15th total of 23,690,000 shares. Based on an average daily trading volume, of 3,830,000 shares, the days-to-cover ratio is currently 5.5 days.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its position in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines during the second quarter worth about $36,000. Wolff Wiese Magana LLC lifted its position in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in International Business Machines in the third quarter valued at $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.4 %

Shares of NYSE IBM traded up $2.88 during mid-day trading on Monday, reaching $207.87. The company had a trading volume of 2,242,044 shares, compared to its average volume of 4,228,252. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a market cap of $192.21 billion, a P/E ratio of 30.06, a PEG ratio of 4.60 and a beta of 0.71. International Business Machines has a 52-week low of $152.35 and a 52-week high of $237.37. The firm has a 50 day simple moving average of $218.79 and a two-hundred day simple moving average of $193.88.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $2.20 EPS. Sell-side analysts predict that International Business Machines will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given 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 (DPR) is 97.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IBM. Evercore ISI lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley decreased their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. BMO Capital Markets increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently 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.