Zions Bancorporation N.A. Sells 104 Shares of International Business Machines Co. (NYSE:IBM)

Zions Bancorporation N.A. lowered its position in International Business Machines Co. (NYSE:IBM) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,268 shares of the technology company’s stock after selling 104 shares during the quarter. Zions Bancorporation N.A.’s holdings in International Business Machines were worth $722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. KBC Group NV grew its stake in International Business Machines by 103.1% in the 3rd quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock worth $195,948,000 after buying an additional 449,912 shares in the last quarter. ROI Financial Advisors LLC grew its position in International Business Machines by 22.8% in the third quarter. ROI Financial Advisors LLC now owns 8,362 shares of the technology company’s stock worth $1,849,000 after acquiring an additional 1,553 shares in the last quarter. Plato Investment Management Ltd increased its stake in International Business Machines by 2.1% in the third quarter. Plato Investment Management Ltd now owns 13,918 shares of the technology company’s stock valued at $3,074,000 after acquiring an additional 288 shares during the last quarter. Cable Hill Partners LLC raised its position in International Business Machines by 6.3% during the third quarter. Cable Hill Partners LLC now owns 6,154 shares of the technology company’s stock valued at $1,361,000 after purchasing an additional 364 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in International Business Machines by 2.0% during the third quarter. Main Street Financial Solutions LLC now owns 10,237 shares of the technology company’s stock worth $2,263,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Finally, DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Down 1.9 %

NYSE:IBM opened at $204.99 on Friday. International Business Machines Co. has a one year low of $152.13 and a one year high of $237.37. The company’s 50-day simple moving average is $218.70 and its 200 day simple moving average is $193.22. The firm has a market capitalization of $189.54 billion, a P/E ratio of 30.12, a PEG ratio of 4.74 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 EPS. As a group, analysts forecast that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued 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 3.26%. International Business Machines’s payout ratio is currently 97.23%.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by insiders.

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.