Premier Fund Managers Ltd Lowers Position in International Business Machines Co. (NYSE:IBM)

Premier Fund Managers Ltd trimmed its position in International Business Machines Co. (NYSE:IBM) by 20.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,080 shares of the technology company’s stock after selling 11,940 shares during the period. Premier Fund Managers Ltd’s holdings in International Business Machines were worth $10,394,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. purchased a new position in International Business Machines during the 3rd quarter valued at about $229,000. Counterweight Ventures LLC purchased a new position in shares of International Business Machines during the third quarter valued at approximately $346,000. West Family Investments Inc. boosted its position in shares of International Business Machines by 26.2% in the 3rd quarter. West Family Investments Inc. now owns 3,763 shares of the technology company’s stock worth $832,000 after purchasing an additional 782 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of International Business Machines in the 3rd quarter worth approximately $13,527,000. Finally, SouthState Corp increased its position in International Business Machines by 1.1% during the 3rd quarter. SouthState Corp now owns 26,789 shares of the technology company’s stock valued at $5,923,000 after buying an additional 300 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $210.31 on Wednesday. The firm has a market capitalization of $194.46 billion, a P/E ratio of 30.61, a PEG ratio of 4.60 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 Co. has a one year low of $152.35 and a one year high of $237.37. The business has a fifty day moving average of $218.98 and a 200 day moving average of $194.50.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) 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 the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.18%. International Business Machines’s payout ratio is presently 97.23%.

Analysts Set New Price Targets

Several research firms have commented on IBM. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Bernstein Bank upped their target price 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. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $208.12.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.07% of the company’s stock.

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.