International Business Machines Co. (NYSE:IBM) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd decreased its holdings in International Business Machines Co. (NYSE:IBM) by 16.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 144,027 shares of the technology company’s stock after selling 28,860 shares during the period. International Business Machines makes up approximately 0.8% of Dai ichi Life Insurance Company Ltd’s investment portfolio, making the stock its 22nd largest position. Dai ichi Life Insurance Company Ltd’s holdings in International Business Machines were worth $31,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. boosted its stake in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter valued at approximately $36,000. Wolff Wiese Magana LLC lifted its holdings in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in International Business Machines in the third quarter worth approximately $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Up 1.5 %

Shares of NYSE IBM opened at $226.25 on Tuesday. The stock has a market cap of $209.20 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 5.01 and a beta of 0.71. International Business Machines Co. has a 52-week low of $154.75 and a 52-week high of $237.37. The business has a 50-day moving average price of $219.63 and a 200 day moving average price of $196.00. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. Equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group lifted their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. UBS Group upped 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, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines 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.