Insider Selling: International Business Machines Co. (NYSE:IBM) SVP Sells 3,600 Shares of Stock

International Business Machines Co. (NYSE:IBM) SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated 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 owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

International Business Machines Stock Performance

NYSE:IBM traded down $0.03 during mid-day trading on Friday, reaching $213.66. 3,196,195 shares of the stock were exchanged, compared to its average volume of 4,245,226. The stock has a market capitalization of $197.56 billion, a P/E ratio of 31.10, a P/E/G ratio of 4.64 and a beta of 0.71. International Business Machines Co. has a 1 year low of $145.28 and a 1 year high of $237.37. The company has a 50 day simple moving average of $218.02 and a 200-day simple moving average of $192.24. 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 earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.20 EPS. Analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on IBM shares. The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Morgan Stanley reduced their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Bernstein Bank increased their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $208.12.

Hedge Funds Weigh In On International Business Machines

Several hedge funds have recently bought and sold shares of IBM. Darwin Wealth Management LLC bought a new position in International Business Machines in the 3rd quarter worth approximately $103,000. Portfolio Design Labs LLC purchased a new stake in shares of International Business Machines during the third quarter worth $260,000. First Horizon Advisors Inc. raised its holdings in International Business Machines by 1.6% during the third quarter. First Horizon Advisors Inc. now owns 195,789 shares of the technology company’s stock valued at $43,285,000 after buying an additional 3,026 shares in the last quarter. Howe & Rusling Inc. increased its stake in shares of International Business Machines by 2.8% in the third quarter. Howe & Rusling Inc. now owns 3,233 shares of the technology company’s stock worth $715,000 after purchasing an additional 88 shares during the period. Finally, Jennison Associates LLC grew its position in International Business Machines by 11.5% during the third quarter. Jennison Associates LLC now owns 522,131 shares of the technology company’s stock worth $115,433,000 after buying an additional 53,658 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.