International Business Machines Co. (NYSE:IBM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in International Business Machines Co. (NYSE:IBM) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 576,943 shares of the technology company’s stock after selling 29,460 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of International Business Machines worth $70,197,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Simon Quick Advisors LLC lifted its holdings in International Business Machines by 67.9% in the third quarter. Simon Quick Advisors LLC now owns 225 shares of the technology company’s stock valued at $27,000 after acquiring an additional 91 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of International Business Machines in the third quarter valued at approximately $50,000. Keebeck Wealth Management LLC purchased a new stake in shares of International Business Machines in the second quarter valued at approximately $67,000. Moser Wealth Advisors LLC increased its position in shares of International Business Machines by 17.4% in the third quarter. Moser Wealth Advisors LLC now owns 675 shares of the technology company’s stock valued at $82,000 after buying an additional 100 shares in the last quarter. Finally, Lenox Wealth Advisors LLC increased its position in shares of International Business Machines by 190.0% in the third quarter. Lenox Wealth Advisors LLC now owns 870 shares of the technology company’s stock valued at $106,000 after buying an additional 570 shares in the last quarter. 56.11% of the stock is owned by institutional investors.

In related news, SVP Diane J. Gherson sold 1,176 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $126.73, for a total transaction of $149,034.48. Following the transaction, the senior vice president now owns 31,767 shares of the company’s stock, valued at approximately $4,025,831.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Diane J. Gherson sold 1,215 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $127.00, for a total value of $154,305.00. Following the transaction, the senior vice president now directly owns 30,597 shares in the company, valued at approximately $3,885,819. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Shares of International Business Machines stock opened at $106.65 on Thursday. International Business Machines Co. has a 52 week low of $90.56 and a 52 week high of $158.75. The business’s fifty day simple moving average is $121.61 and its 200-day simple moving average is $122.57. The firm has a market cap of $94.98 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 3.46 and a beta of 1.16. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.68.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Monday, October 19th. The technology company reported $2.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.58. International Business Machines had a return on equity of 49.12% and a net margin of 10.53%. The business had revenue of $17.56 billion for the quarter, compared to analyst estimates of $17.56 billion. During the same quarter in the prior year, the company posted $2.68 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Co. will post 10.94 earnings per share for the current year.

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on International Business Machines from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price target on International Business Machines from $135.00 to $148.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Wedbush reiterated a “neutral” rating on shares of International Business Machines in a research report on Thursday, July 16th. Zacks Investment Research cut International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 price target for the company. in a research report on Wednesday, October 21st. Finally, Credit Suisse Group boosted their price target on International Business Machines from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. International Business Machines has an average rating of “Hold” and an average price target of $139.06.

International Business Machines Company Profile

International Business Machines Corporation operates as an integrated solutions and services company worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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