King Wealth Management Group Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

King Wealth Management Group reduced its position in International Business Machines Co. (NYSE:IBM) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,567 shares of the technology company’s stock after selling 79 shares during the quarter. King Wealth Management Group’s holdings in International Business Machines were worth $789,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. M&G Plc purchased a new position in shares of International Business Machines in the first quarter worth about $16,329,000. Mizuho Markets Americas LLC increased its stake in International Business Machines by 81.7% in the 1st quarter. Mizuho Markets Americas LLC now owns 59,641 shares of the technology company’s stock worth $11,389,000 after purchasing an additional 26,816 shares during the period. Towercrest Capital Management lifted its position in International Business Machines by 35.1% in the first quarter. Towercrest Capital Management now owns 2,586 shares of the technology company’s stock valued at $494,000 after purchasing an additional 672 shares during the last quarter. Te Ahumairangi Investment Management Ltd boosted its stake in shares of International Business Machines by 6.6% during the first quarter. Te Ahumairangi Investment Management Ltd now owns 41,510 shares of the technology company’s stock valued at $7,927,000 after purchasing an additional 2,555 shares during the period. Finally, Clearstead Trust LLC grew its holdings in shares of International Business Machines by 1.8% in the first quarter. Clearstead Trust LLC now owns 9,850 shares of the technology company’s stock worth $1,881,000 after purchasing an additional 178 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on IBM. Jefferies Financial Group upped their price objective 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. Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. BMO Capital Markets boosted their target price on 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 raised their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Performance

IBM stock opened at $209.01 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. International Business Machines Co. has a 1 year low of $150.40 and a 1 year high of $237.37. The company has a market cap of $193.26 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The stock’s fifty day moving average price is $218.58 and its 200-day moving average price is $193.11.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The business 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 dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is currently 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.