Investment Management Corp of Ontario Sells 906 Shares of International Business Machines Co. (NYSE:IBM)

Investment Management Corp of Ontario decreased its position in International Business Machines Co. (NYSE:IBM) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,991 shares of the technology company’s stock after selling 906 shares during the period. International Business Machines comprises approximately 0.6% of Investment Management Corp of Ontario’s portfolio, making the stock its 26th biggest holding. Investment Management Corp of Ontario’s holdings in International Business Machines were worth $28,075,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its stake in International Business Machines by 9.6% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 10,947 shares of the technology company’s stock valued at $1,893,000 after purchasing an additional 955 shares during the last quarter. Arden Trust Co increased its stake in shares of International Business Machines by 10.4% during the second quarter. Arden Trust Co now owns 2,178 shares of the technology company’s stock valued at $377,000 after buying an additional 205 shares during the period. Apella Capital LLC increased its position in shares of International Business Machines by 78.6% during the second quarter. Apella Capital LLC now owns 4,132 shares of the technology company’s stock worth $729,000 after purchasing an additional 1,818 shares in the last quarter. CVA Family Office LLC increased its stake in shares of International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after acquiring an additional 57 shares during the period. Finally, Fiduciary Alliance LLC acquired a new stake in International Business Machines in the 2nd quarter valued at about $294,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.4 %

NYSE:IBM opened at $226.37 on Tuesday. The company has a market cap of $209.31 billion, a price-to-earnings ratio of 33.10, a P/E/G ratio of 5.11 and a beta of 0.73. The stock’s fifty day moving average price is $220.63 and its two-hundred day moving average price is $197.69. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52-week low of $157.88 and a 52-week high of $237.37.

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 for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. On average, analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

Analysts Set New Price Targets

Several research firms recently weighed in on IBM. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Morgan Stanley cut their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Bank of America lifted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. 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 report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.12.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value 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. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.07% of the stock is owned by company insiders.

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.