Bell Bank Sells 9,500 Shares of International Business Machines Co. (NYSE:IBM)

Bell Bank decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 16.8% during the third quarter, HoldingsChannel reports. The firm owned 47,183 shares of the technology company’s stock after selling 9,500 shares during the period. International Business Machines comprises 1.2% of Bell Bank’s portfolio, making the stock its 14th largest holding. Bell Bank’s holdings in International Business Machines were worth $10,431,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines in the 2nd quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines during the 3rd quarter valued at $5,117,000. Focused Wealth Management Inc boosted its position in shares of International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares in the last quarter. QRG Capital Management Inc. grew its stake in International Business Machines by 4.5% during the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after buying an additional 6,004 shares during the last quarter. Finally, F M Investments LLC increased its position in International Business Machines by 39.6% during the 3rd quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock valued at $13,696,000 after buying an additional 17,554 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of several recent analyst reports. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Up 0.0 %

Shares of NYSE:IBM opened at $210.91 on Thursday. The company has a market capitalization of $195.02 billion, a PE ratio of 30.70, a PEG ratio of 4.74 and a beta of 0.71. International Business Machines Co. has a 12-month low of $149.05 and a 12-month high of $237.37. The business has a 50 day moving average of $218.44 and a two-hundred day moving average of $192.98. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 earnings per share. As a group, analysts forecast that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.