Thrivent Financial for Lutherans Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Thrivent Financial for Lutherans trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 4.3% in the 3rd quarter, Holdings Channel reports. The fund owned 1,341,021 shares of the technology company’s stock after selling 60,777 shares during the quarter. International Business Machines accounts for about 0.6% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 15th biggest position. Thrivent Financial for Lutherans’ holdings in International Business Machines were worth $296,472,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc lifted its holdings in shares of International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of International Business Machines by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after acquiring an additional 304,390 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IBM shares. UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Morgan Stanley reduced their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven 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.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on 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 in the company, valued at $5,463,928. This trade 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 this link. 0.07% of the stock is owned by company insiders.

International Business Machines Price Performance

Shares of IBM stock opened at $204.99 on Friday. The stock’s 50-day moving average is $218.79 and its 200 day moving average is $193.67. International Business Machines Co. has a 1-year low of $152.13 and a 1-year high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market cap of $189.54 billion, a P/E ratio of 29.84, a PEG ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued 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 quarter in the previous year, the firm earned $2.20 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal 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. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.26%. International Business Machines’s payout ratio is 97.23%.

About International Business Machines

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.