Manchester Financial Inc. Sells 1,696 Shares of International Business Machines Corporation $IBM

Manchester Financial Inc. cut its position in International Business Machines Corporation (NYSE:IBM) by 41.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,372 shares of the technology company’s stock after selling 1,696 shares during the period. Manchester Financial Inc.’s holdings in International Business Machines were worth $669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after buying an additional 1,913,708 shares in the last quarter. State Street Corp lifted its position in shares of International Business Machines by 0.3% in the second quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock valued at $16,076,406,000 after acquiring an additional 147,721 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of International Business Machines by 1.9% in the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock worth $6,444,527,000 after acquiring an additional 400,131 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of International Business Machines by 6.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after purchasing an additional 524,633 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in International Business Machines by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock valued at $2,100,751,000 after purchasing an additional 234,318 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.4%

NYSE IBM opened at $303.93 on Wednesday. The stock has a 50 day moving average price of $302.10 and a 200-day moving average price of $280.26. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market capitalization of $284.09 billion, a P/E ratio of 36.35, a P/E/G ratio of 3.02 and a beta of 0.69.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.20. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. International Business Machines’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.30 earnings per share. As a group, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio is currently 80.38%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IBM. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Jefferies Financial Group upped their target price on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Stifel Nicolaus raised their target price on shares of International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Company 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.