Caisse DE Depot ET Placement DU Quebec Sells 339,295 Shares of International Business Machines Co. (NYSE:IBM)

Caisse DE Depot ET Placement DU Quebec cut its stake in International Business Machines Co. (NYSE:IBM) by 41.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 474,467 shares of the technology company’s stock after selling 339,295 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.05% of International Business Machines worth $104,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. boosted its position in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines during the second quarter worth $7,160,000. Philip James Wealth Mangement LLC bought a new position in International Business Machines in the third quarter valued at $5,117,000. Aljian Capital Management LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth about $611,000. Finally, Focused Wealth Management Inc increased its position in shares of International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after acquiring an additional 3,887 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $227.41 on Friday. International Business Machines Co. has a 12-month low of $156.89 and a 12-month high of $237.37. The company’s 50 day moving average price is $220.63 and its two-hundred day moving average price is $197.48. The firm has a market cap of $210.27 billion, a PE ratio of 33.10, a PEG ratio of 5.11 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent research reports. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, Bank of America upped their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. 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 data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $208.12.

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.