Colonial River Investments LLC Sells 1,316 Shares of International Business Machines Co. (NYSE:IBM)

Colonial River Investments LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 37.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,222 shares of the technology company’s stock after selling 1,316 shares during the quarter. Colonial River Investments LLC’s holdings in International Business Machines were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IBM. FPC Investment Advisory Inc. bought a new position in International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines during the first quarter worth about $28,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at approximately $29,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter worth approximately $36,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.0 %

IBM stock opened at $213.72 on Friday. International Business Machines Co. has a one year low of $145.28 and a one year high of $237.37. The stock has a market cap of $197.62 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71. The company has a fifty day moving average price of $218.02 and a two-hundred day moving average price of $192.24. 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 announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping 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 business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. UBS Group lifted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Bank of America boosted their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Finally, Bernstein Bank boosted 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. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $208.12.

Insider Transactions 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 completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.

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.