International Business Machines Co. (NYSE:IBM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in International Business Machines Co. (NYSE:IBM) by 27.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 383,932 shares of the technology company’s stock after selling 144,682 shares during the period. Victory Capital Management Inc.’s holdings in International Business Machines were worth $84,880,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IBM. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines in the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC purchased a new position in shares of International Business Machines in the third quarter valued at approximately $5,117,000. Focused Wealth Management Inc lifted its position in shares of International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after acquiring an additional 3,887 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of International Business Machines by 4.5% in the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock valued at $30,992,000 after acquiring an additional 6,004 shares in the last quarter. Finally, F M Investments LLC lifted its position in shares of International Business Machines by 39.6% in the third quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock valued at $13,696,000 after acquiring an additional 17,554 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IBM shares. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Trading Up 0.0 %

Shares of NYSE IBM opened at $210.91 on Thursday. International Business Machines Co. has a twelve month low of $149.05 and a twelve month 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 stock has a fifty day simple moving average of $218.44 and a 200-day simple moving average of $192.98. The stock has a market capitalization of $195.02 billion, a PE ratio of 30.70, a PEG ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 3.17%. International Business Machines’s payout ratio is presently 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.