International Business Machines Corporation $IBM Shares Sold by M&G PLC

M&G PLC decreased its position in International Business Machines Corporation (NYSE:IBM) by 62.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,847 shares of the technology company’s stock after selling 9,865 shares during the quarter. M&G PLC’s holdings in International Business Machines were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of IBM. CFS Investment Advisory Services LLC boosted its holdings in shares of International Business Machines by 0.4% during the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock worth $2,878,000 after purchasing an additional 34 shares during the last quarter. KPP Advisory Services LLC lifted its position in International Business Machines by 1.7% during the third quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock worth $584,000 after buying an additional 34 shares during the period. Marco Investment Management LLC boosted its stake in International Business Machines by 0.3% in the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock worth $3,040,000 after buying an additional 34 shares during the last quarter. MA Private Wealth grew its holdings in International Business Machines by 1.5% in the 3rd quarter. MA Private Wealth now owns 2,242 shares of the technology company’s stock valued at $633,000 after buying an additional 34 shares during the period. Finally, Ignite Planners LLC increased its stake in shares of International Business Machines by 0.9% during the 3rd quarter. Ignite Planners LLC now owns 4,000 shares of the technology company’s stock valued at $1,129,000 after acquiring an additional 36 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.6%

Shares of IBM opened at $258.25 on Wednesday. International Business Machines Corporation has a 12 month low of $214.50 and a 12 month high of $324.90. The stock’s 50-day moving average is $297.26 and its two-hundred day moving average is $284.32. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. The stock has a market cap of $241.39 billion, a PE ratio of 23.16, a P/E/G ratio of 2.63 and a beta of 0.69.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.33 by $0.19. The business had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The company’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $3.92 EPS. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s payout ratio is presently 60.27%.

Insider Buying and Selling at International Business Machines

In other news, Director David N. Farr acquired 1,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were purchased at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director directly owned 9,258 shares of the company’s stock, valued at $2,814,432. This represents a 12.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IBM shares. Evercore boosted their target price on shares of International Business Machines from $330.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $360.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Argus set a $360.00 price objective on International Business Machines in a report on Friday, January 30th. Erste Group Bank raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $350.00 price target on shares of International Business Machines in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $330.07.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.