International Business Machines Co. (NYSE:IBM) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.2% during the third quarter, HoldingsChannel reports. The firm owned 21,381 shares of the technology company’s stock after selling 710 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in International Business Machines were worth $4,727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Hazlett Burt & Watson Inc. increased its position in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new stake in International Business Machines during the 3rd quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines in the second quarter valued at about $36,000. Capital Performance Advisors LLP purchased a new position in shares of International Business Machines in the third quarter worth about $43,000. Finally, Briaud Financial Planning Inc lifted its holdings in shares of International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity

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 approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Bank of America increased 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 note on Wednesday, October 9th. Morgan Stanley decreased their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Down 0.7 %

Shares of NYSE IBM opened at $230.11 on Thursday. International Business Machines Co. has a 52-week low of $157.88 and a 52-week high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company’s 50-day simple moving average is $222.38 and its 200-day simple moving average is $200.91. The firm has a market cap of $212.77 billion, a price-to-earnings ratio of 33.49, a price-to-earnings-growth ratio of 5.16 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during 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 firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 EPS. Equities analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.90%. International Business Machines’s dividend payout ratio (DPR) 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.