Curi RMB Capital LLC Cuts Stake in International Business Machines Co. (NYSE:IBM)

Curi RMB Capital LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,650 shares of the technology company’s stock after selling 2,516 shares during the quarter. Curi RMB Capital LLC’s holdings in International Business Machines were worth $12,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. International Assets Investment Management LLC grew its position in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IBM. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bernstein Bank upped their target price on 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. Finally, Jefferies Financial Group upped their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

Shares of IBM opened at $209.01 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a 50-day moving average of $218.58 and a two-hundred day moving average of $193.11. The stock has a market cap of $193.26 billion, a P/E ratio of 30.42, a P/E/G ratio of 4.74 and a beta of 0.71. International Business Machines Co. has a one year low of $150.40 and a one year high of $237.37.

International Business Machines (NYSE:IBM) last issued 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 firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

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.