Sompo Asset Management Co. Ltd. Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Sompo Asset Management Co. Ltd. trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 27.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,112 shares of the technology company’s stock after selling 3,110 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in International Business Machines were worth $1,793,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after buying an additional 536,785 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its stake in shares of International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on IBM shares. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Morgan Stanley reduced their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Stifel Nicolaus increased 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. Finally, DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $208.12.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 completion of the sale, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $222.97 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 1 year low of $153.92 and a 1 year high of $237.37. The firm’s 50-day simple moving average is $219.45 and its 200-day simple moving average is $195.39. The firm has a market cap of $206.17 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for 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%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business posted $2.20 earnings per share. Equities analysts forecast that International Business Machines Co. will post 10.12 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 given a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. International Business Machines’s dividend payout ratio is currently 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.