International Business Machines Co. (NYSE:IBM) Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its holdings in International Business Machines Co. (NYSE:IBMGet Rating) by 36.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,600 shares of the technology company’s stock after selling 168,200 shares during the quarter. Korea Investment CORP’s holdings in International Business Machines were worth $40,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in IBM. Vestmark Advisory Solutions Inc. increased its stake in International Business Machines by 23.3% during the second quarter. Vestmark Advisory Solutions Inc. now owns 12,009 shares of the technology company’s stock worth $1,695,000 after acquiring an additional 2,268 shares during the last quarter. Cibc World Market Inc. increased its stake in International Business Machines by 3.1% during the first quarter. Cibc World Market Inc. now owns 329,303 shares of the technology company’s stock worth $42,816,000 after acquiring an additional 9,996 shares during the last quarter. Sawtooth Solutions LLC increased its stake in International Business Machines by 30.9% during the second quarter. Sawtooth Solutions LLC now owns 10,483 shares of the technology company’s stock worth $1,480,000 after acquiring an additional 2,477 shares during the last quarter. Savant Capital LLC increased its stake in International Business Machines by 7.0% during the second quarter. Savant Capital LLC now owns 16,608 shares of the technology company’s stock worth $2,345,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its stake in International Business Machines by 2.0% during the first quarter. Bridgewater Advisors Inc. now owns 5,581 shares of the technology company’s stock worth $726,000 after acquiring an additional 112 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.2 %

Shares of IBM opened at $148.75 on Thursday. The company has a market capitalization of $134.49 billion, a P/E ratio of 108.58, a P/E/G ratio of 2.46 and a beta of 0.88. International Business Machines Co. has a one year low of $114.56 and a one year high of $150.46. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.89 and a current ratio of 0.95. The stock has a 50-day moving average price of $130.59 and a 200 day moving average price of $133.23.

International Business Machines (NYSE:IBMGet Rating) last issued its quarterly earnings results on Wednesday, October 19th. The technology company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.03. The firm had revenue of $14.11 billion during the quarter, compared to the consensus estimate of $13.55 billion. International Business Machines had a return on equity of 41.50% and a net margin of 2.08%. International Business Machines’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.52 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 9.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Thursday, November 10th will be issued a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Wednesday, November 9th. International Business Machines’s dividend payout ratio is currently 481.76%.

Insider Activity at International Business Machines

In other International Business Machines news, Director David N. Farr purchased 1,000 shares of International Business Machines stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average price of $125.00 per share, with a total value of $125,000.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $125,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other International Business Machines news, VP Bene Robert F. Del sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.36, for a total transaction of $445,080.00. Following the transaction, the vice president now owns 14,553 shares of the company’s stock, valued at approximately $2,159,083.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David N. Farr bought 1,000 shares of International Business Machines stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $125.00 per share, for a total transaction of $125,000.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at $125,000. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IBM shares. Credit Suisse Group dropped their price target on International Business Machines from $158.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Societe Generale dropped their price target on International Business Machines to $129.00 in a research note on Tuesday, September 13th. Stifel Nicolaus decreased their target price on International Business Machines from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 17th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Finally, UBS Group decreased their target price on International Business Machines from $112.00 to $111.00 and set a “sell” rating for the company in a research report on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $139.40.

International Business Machines Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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