International Business Machines Corporation $IBM Shares Sold by Diversified Trust Co

Key Points

• Diversified Trust Co. cut its IBM stake by 16.5% in the third quarter, selling 4,196 shares; it held 21,239 shares valued at about $4.67 million afterward.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $266.88; 19 analysts rated IBM Buy, 13 Hold, and two Sell.
• IBM beat quarterly earnings and revenue estimates, reporting $2.95 per share and $17.10 billion in revenue, with revenue up 4.7% year over year. The company also declared a quarterly dividend of $1.69 per share.

Diversified Trust Co reduced its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 16.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,239 shares of the technology company's stock after selling 4,196 shares during the period. Diversified Trust Co's holdings in International Business Machines were worth $4,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Harborfront Financial Group LLC bought a new position in International Business Machines in the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in International Business Machines during the 2nd quarter valued at approximately $28,000. Bare Financial Services Inc raised its position in shares of International Business Machines by 114.6% during the second quarter. Bare Financial Services Inc now owns 103 shares of the technology company's stock valued at $29,000 after buying an additional 55 shares during the last quarter. Caitlin John LLC bought a new stake in shares of International Business Machines during the second quarter valued at approximately $35,000. Finally, Axiom Investment Management LLC purchased a new position in shares of International Business Machines in the first quarter worth $36,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about International Business Machines

Investors following IBM have been watching these headlines:

• Positive Sentiment: An AI-powered quantum error-mitigation capability from LTM is now available in IBM’s Quantum Functions Catalog. This adds to the catalog’s functionality, though the announcement does not quantify commercial impact. LTM adds AI-powered quantum error mitigation to IBM catalog
• Neutral Sentiment: A report projects the managed learning services market will grow to $14.65 billion by 2030 and names IBM among providers scaling AI-focused learning. This points to a potential opportunity, but IBM’s expected share is not given. Global managed learning services market report
• Negative Sentiment: A report says IBM plans to end visa and green-card sponsorship for some roles in its largest business unit. If implemented broadly, the change could make recruiting or retaining specialized talent more difficult; the article’s details are limited. IBM to end visa and green-card sponsorship for some roles

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $270.00 target price on shares of International Business Machines in a research note on Thursday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $250.00 to $269.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Stifel Nicolaus increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. BMO Capital Markets boosted their target price on International Business Machines from $230.00 to $265.00 and gave the stock a "market perform" rating in a research report on Thursday, October 22nd. Finally, Robert W. Baird increased their price target on International Business Machines from $230.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, October 22nd. Nineteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $266.88.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $2.53 during trading hours on Friday, reaching $247.20. The company's stock had a trading volume of 2,667,291 shares, compared to its average volume of 5,073,837. The firm has a 50 day moving average price of $238.06 and a 200-day moving average price of $247.43. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.85 and a quick ratio of 0.80. The stock has a market cap of $233.63 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.41 and a beta of 0.78. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.10. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $16.82 billion. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.65 EPS. On average, analysts predict that International Business Machines Corporation will post 12.42 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be given a $1.69 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.7%. International Business Machines's dividend payout ratio (DPR) is currently 57.63%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president directly owned 47,800 shares of the company's stock, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers. IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.

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