MAI Capital Management Sells 3,782 Shares of International Business Machines Co. (NYSE:IBM)

MAI Capital Management cut its stake in International Business Machines Co. (NYSE:IBM) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,377 shares of the technology company’s stock after selling 3,782 shares during the quarter. MAI Capital Management’s holdings in International Business Machines were worth $12,022,000 as of its most recent filing with the Securities & Exchange Commission.

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

International Business Machines Trading Up 1.5 %

Shares of International Business Machines stock opened at $208.09 on Tuesday. International Business Machines Co. has a twelve month low of $152.35 and a twelve month high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business has a 50-day moving average price of $218.88 and a 200-day moving average price of $194.18. The firm has a market cap of $192.41 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during 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 firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 EPS. Equities research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 3.21%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. BMO Capital Markets upped their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $208.12.

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.