Tidemark LLC Trims Position in International Business Machines Co. (NYSE:IBM)

Tidemark LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 23.5% in the 3rd quarter, Holdings Channel reports. The fund owned 339 shares of the technology company’s stock after selling 104 shares during the period. Tidemark LLC’s holdings in International Business Machines were worth $75,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IBM. Legal & General Group Plc increased its position in 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 worth $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of 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 worth $1,274,074,000 after buying an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after buying an additional 304,390 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in 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 valued at $671,352,000 after acquiring an additional 2,118,165 shares during the last quarter. Finally, Swiss National Bank grew its position in International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IBM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Bank of America lifted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Evercore ISI lifted their target price 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, Bernstein Bank increased their price target 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $204.90 on Monday. The firm has a market cap of $189.46 billion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 4.60 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 1 year low of $152.35 and a 1 year high of $237.37. The business has a fifty day simple moving average of $218.79 and a 200 day simple moving average of $193.88.

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

International Business Machines Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is 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.