Intech Investment Management LLC Sells 78,866 Shares of International Business Machines Co. (NYSE:IBM)

Intech Investment Management LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 24.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 239,169 shares of the technology company’s stock after selling 78,866 shares during the period. International Business Machines makes up approximately 0.6% of Intech Investment Management LLC’s holdings, making the stock its 25th largest position. Intech Investment Management LLC’s holdings in International Business Machines were worth $52,875,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC bought a new position in International Business Machines during the third quarter valued at approximately $29,000. Capital Performance Advisors LLP bought a new stake in International Business Machines in the third quarter worth $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the 2nd quarter worth about $36,000. Finally, Wolff Wiese Magana LLC raised its position in shares of International Business Machines by 37.0% during the 2nd 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 in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price target 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. Finally, Evercore ISI raised their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was 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 approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Up 2.1 %

Shares of NYSE IBM opened at $214.61 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $198.44 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 4.72 and a beta of 0.71. The stock’s fifty day simple moving average is $219.07 and its two-hundred day simple moving average is $194.64. International Business Machines Co. has a 12-month low of $153.51 and a 12-month high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. International Business Machines’s dividend payout ratio (DPR) 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.