Cornerstone Planning Group LLC Sells 517 Shares of International Business Machines Co. (NYSE:IBM)

Cornerstone Planning Group LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 51.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 482 shares of the technology company’s stock after selling 517 shares during the quarter. Cornerstone Planning Group LLC’s holdings in International Business Machines were worth $101,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. lifted its holdings in 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 in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines in the third quarter valued at approximately $29,000. ESL Trust Services LLC bought a new position in International Business Machines in the first quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new position in International Business Machines during the 3rd quarter worth $43,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter valued at $36,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Business Machines

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IBM shares. Jefferies Financial Group raised their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. DZ Bank cut 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. BMO Capital Markets increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Down 0.4 %

NYSE:IBM opened at $210.02 on Wednesday. The company’s 50 day moving average is $218.44 and its two-hundred day moving average is $192.98. The company has a market cap of $194.19 billion, a PE ratio of 30.70, a P/E/G ratio of 4.80 and a beta of 0.71. 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.

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 company 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 was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 EPS. Analysts anticipate that International Business Machines Co. will post 10.11 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 dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

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.