International Business Machines Co. (NYSE:IBM) Stake Lessened by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 11.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,028 shares of the technology company’s stock after selling 3,126 shares during the quarter. King Luther Capital Management Corp’s holdings in International Business Machines were worth $5,533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. increased its holdings in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in International Business Machines during the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines in the 3rd quarter valued at approximately $5,117,000. Aljian Capital Management LLC purchased a new stake in International Business Machines in the 3rd quarter worth approximately $611,000. Finally, Focused Wealth Management Inc lifted its position in International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after buying an additional 3,887 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $222.30 on Friday. The company has a market cap of $205.55 billion, a P/E ratio of 32.36, a P/E/G ratio of 4.72 and a beta of 0.71. International Business Machines Co. has a 1 year low of $153.92 and a 1 year high of $237.37. 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 company has a fifty day simple moving average of $219.29 and a 200 day simple moving average of $194.83.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.01%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Morgan Stanley dropped their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Evercore ISI lifted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $208.12.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by company insiders.

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.