Rock Point Advisors LLC Sells 109 Shares of International Business Machines Co. (NYSE:IBM)

Rock Point Advisors LLC trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,585 shares of the technology company’s stock after selling 109 shares during the quarter. Rock Point Advisors LLC’s holdings in International Business Machines were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in shares of International Business Machines by 17.1% in the first quarter. Janus Henderson Group PLC now owns 717,202 shares of the technology company’s stock valued at $136,946,000 after acquiring an additional 104,771 shares during the period. Ancora Advisors LLC lifted its stake in International Business Machines by 2.3% in the 1st quarter. Ancora Advisors LLC now owns 8,214 shares of the technology company’s stock worth $1,569,000 after purchasing an additional 183 shares in the last quarter. Meiji Yasuda Life Insurance Co bought a new position in International Business Machines in the 1st quarter valued at $226,000. Coppell Advisory Solutions Corp. purchased a new position in shares of International Business Machines during the 1st quarter valued at $224,000. Finally, Beacon Capital Management LLC increased its holdings in shares of International Business Machines by 41.6% in the first quarter. Beacon Capital Management LLC now owns 2,411 shares of the technology company’s stock worth $460,000 after purchasing an additional 708 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 0.3 %

Shares of NYSE:IBM traded up $0.65 during trading on Tuesday, reaching $226.78. 640,387 shares of the company traded hands, compared to its average volume of 4,234,315. The firm has a market capitalization of $209.69 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 5.01 and a beta of 0.71. International Business Machines Co. has a 52-week low of $154.75 and a 52-week high of $237.37. 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 business’s fifty day moving average is $219.63 and its 200-day moving average is $196.00.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during 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 revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 earnings per share. As a group, analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.95%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Wall Street Analyst Weigh In

IBM has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Bank of America upped their price objective 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. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Finally, UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus 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.