Resources Management Corp CT ADV Trims Stake in International Business Machines Co. (NYSE:IBM)

Resources Management Corp CT ADV reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,626 shares of the technology company’s stock after selling 260 shares during the quarter. Resources Management Corp CT ADV’s holdings in International Business Machines were worth $5,886,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. raised its position in International Business Machines by 1,054.5% during the third 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 in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines in the third quarter valued at approximately $29,000. Capital Performance Advisors LLP acquired a new stake in International Business Machines in the third quarter valued at approximately $43,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter valued at approximately $36,000. Finally, Quest Partners LLC grew its holdings in International Business Machines by 23,700.0% in the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock valued at $53,000 after purchasing an additional 237 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE:IBM opened at $230.02 on Tuesday. 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 has a market capitalization of $212.69 billion, a P/E ratio of 33.48, a P/E/G ratio of 5.34 and a beta of 0.73. The stock’s fifty day moving average is $221.92 and its two-hundred day moving average is $200.27.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given 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 2.90%. International Business Machines’s dividend payout ratio is currently 97.23%.

Analysts Set New Price Targets

Several brokerages have commented on IBM. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. BMO Capital Markets raised their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price target 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. Finally, Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $208.12.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’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 sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines 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.