PNC Financial Services Group Inc. Decreases Position in International Business Machines Co. (NYSE:IBM)

PNC Financial Services Group Inc. decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,175,436 shares of the technology company’s stock after selling 6,014 shares during the quarter. PNC Financial Services Group Inc. owned 0.13% of International Business Machines worth $259,865,000 as of its most recent filing with the Securities & Exchange Commission.

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

International Business Machines Price Performance

NYSE IBM opened at $208.09 on Tuesday. The company has a market cap of $192.41 billion, a PE ratio of 30.29, a P/E/G ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 52-week low of $152.35 and a 52-week high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm’s 50 day moving average price is $218.88 and its 200-day moving average price is $194.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results 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. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.20 EPS. Sell-side analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company 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 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s 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 completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on IBM shares. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. UBS Group increased 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. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.12.

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.