International Business Machines Co. (NYSE:IBM) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its stake in International Business Machines Co. (NYSE:IBM) by 17.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 274,043 shares of the technology company’s stock after selling 57,013 shares during the period. Vontobel Holding Ltd.’s holdings in International Business Machines were worth $60,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Terra Nova Asset Management LLC lifted its stake in shares of International Business Machines by 25.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 10,632 shares of the technology company’s stock worth $2,351,000 after acquiring an additional 2,144 shares during the period. Sunpointe LLC acquired a new stake in shares of International Business Machines in the 3rd quarter worth approximately $231,000. SeaCrest Wealth Management LLC lifted its stake in shares of International Business Machines by 0.5% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 15,925 shares of the technology company’s stock worth $3,521,000 after acquiring an additional 72 shares during the period. Bill Few Associates Inc. lifted its stake in shares of International Business Machines by 4.5% in the 3rd quarter. Bill Few Associates Inc. now owns 15,375 shares of the technology company’s stock worth $3,399,000 after acquiring an additional 666 shares during the period. Finally, Mason & Associates LLC acquired a new stake in shares of International Business Machines in the 3rd quarter worth approximately $208,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on IBM shares. Bernstein Bank increased their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Finally, The Goldman Sachs Group increased 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 note on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $200.82.

International Business Machines Stock Down 0.7 %

International Business Machines stock traded down $1.71 during trading hours on Wednesday, hitting $231.25. The company had a trading volume of 656,228 shares, compared to its average volume of 4,177,897. The firm has a market capitalization of $212.43 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm’s fifty day moving average is $209.64 and its 200-day moving average is $188.23. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.18 EPS. On average, research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.89%. International Business Machines’s dividend payout ratio is presently 75.65%.

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.