Martingale Asset Management L P Sells 7,596 Shares of International Business Machines Co. (NYSE:IBM)

Martingale Asset Management L P cut its holdings in International Business Machines Co. (NYSE:IBM) by 4.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 161,529 shares of the technology company’s stock after selling 7,596 shares during the quarter. International Business Machines accounts for approximately 0.8% of Martingale Asset Management L P’s investment portfolio, making the stock its 25th largest position. Martingale Asset Management L P’s holdings in International Business Machines were worth $35,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. iA Global Asset Management Inc. purchased a new position in shares of International Business Machines in the first quarter valued at $663,000. Cetera Investment Advisers lifted its position in shares of International Business Machines by 340.3% during the first quarter. Cetera Investment Advisers now owns 293,448 shares of the technology company’s stock worth $56,037,000 after purchasing an additional 226,802 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in shares of International Business Machines by 6.2% during the first quarter. Cetera Advisor Networks LLC now owns 143,860 shares of the technology company’s stock worth $27,471,000 after purchasing an additional 8,398 shares during the last quarter. Railway Pension Investments Ltd bought a new stake in shares of International Business Machines during the first quarter worth $24,328,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of International Business Machines by 75.5% in the first quarter. EverSource Wealth Advisors LLC now owns 2,405 shares of the technology company’s stock valued at $459,000 after acquiring an additional 1,035 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.8 %

Shares of IBM stock opened at $226.92 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market cap of $209.82 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 5.09 and a beta of 0.71. The stock has a 50 day simple moving average of $220.43 and a 200-day simple moving average of $196.86. International Business Machines Co. has a 1-year low of $154.86 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly 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 return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI lifted 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. Jefferies Financial Group lifted their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Morgan Stanley decreased their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’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. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by company 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.