MAI Capital Management Reduces Position in International Business Machines Co. (NYSE:IBM)

MAI Capital Management trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 6.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,377 shares of the technology company’s stock after selling 3,782 shares during the period. MAI Capital Management’s holdings in International Business Machines were worth $12,022,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Aljian Capital Management LLC purchased a new position in International Business Machines during the 3rd quarter worth $611,000. Planning Directions Inc. purchased a new position in shares of International Business Machines during the third quarter valued at $213,000. Swiss National Bank raised its holdings in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares in the last quarter. Claro Advisors LLC lifted its stake in International Business Machines by 18.2% in the third quarter. Claro Advisors LLC now owns 6,693 shares of the technology company’s stock worth $1,480,000 after acquiring an additional 1,031 shares during the period. Finally, Peterson Financial Group Inc. bought a new position in International Business Machines during the 3rd quarter worth about $237,000. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the subject of several research reports. Bank of America upped their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. UBS Group lifted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Morgan Stanley decreased their price objective 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. Finally, Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $208.12.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 1.5 %

NYSE:IBM opened at $208.09 on Tuesday. 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 firm has a fifty day simple moving average of $218.88 and a 200-day simple moving average of $194.18. International Business Machines Co. has a 12 month low of $152.35 and a 12 month high of $237.37. The company has a market capitalization of $192.41 billion, a P/E ratio of 30.29, a PEG ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm 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. This represents a $6.68 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

About International Business Machines

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.