RB Capital Management LLC Trims Position in International Business Machines Co. (NYSE:IBM)

RB Capital Management LLC lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 18.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,088 shares of the technology company’s stock after selling 243 shares during the quarter. RB Capital Management LLC’s holdings in International Business Machines were worth $241,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines in the second quarter worth about $7,160,000. Philip James Wealth Mangement LLC bought a new position in shares of International Business Machines in the third quarter worth about $5,117,000. Aljian Capital Management LLC bought a new position in shares of International Business Machines in the third quarter worth about $611,000. Finally, Focused Wealth Management Inc boosted its stake in shares of International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after acquiring an additional 3,887 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

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

International Business Machines Price Performance

Shares of International Business Machines stock opened at $231.76 on Wednesday. The firm has a fifty day moving average price of $221.92 and a two-hundred day moving average price of $200.27. The company has a market cap of $214.30 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 5.16 and a beta of 0.73. International Business Machines Co. has a fifty-two week low of $157.88 and a fifty-two week high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the company posted $2.20 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, DZ Bank cut 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 company. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price 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.