Pitcairn Co. Sells 650 Shares of International Business Machines Co. (NYSE:IBM)

Pitcairn Co. cut its stake in International Business Machines Co. (NYSE:IBM) by 11.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,020 shares of the technology company’s stock after selling 650 shares during the quarter. Pitcairn Co.’s holdings in International Business Machines were worth $1,110,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. boosted its stake in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the 3rd quarter worth $29,000. Capital Performance Advisors LLP purchased a new position in International Business Machines during the 3rd quarter worth $43,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the 2nd quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC raised its stake in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were 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 owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IBM. Bank of America upped their price objective 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. BMO Capital Markets upped their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Evercore ISI boosted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Three research 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’s stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

NYSE:IBM opened at $222.97 on Monday. The company has a 50 day moving average price of $219.45 and a 200-day moving average price of $195.57. International Business Machines Co. has a 1-year low of $153.92 and a 1-year high of $237.37. The firm has a market cap of $206.17 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71. 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 issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 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 prior year, the firm posted $2.20 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.