Foundry Partners LLC Sells 19,217 Shares of International Business Machines Co. (NYSE:IBM)

Foundry Partners LLC cut its position in shares of International Business Machines Co. (NYSE:IBM) by 14.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,601 shares of the technology company’s stock after selling 19,217 shares during the period. Foundry Partners LLC’s holdings in International Business Machines were worth $14,933,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Charles Schwab Investment Management Inc. grew its stake in International Business Machines by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,701,925 shares of the technology company’s stock worth $2,626,331,000 after buying an additional 270,201 shares during the last quarter. Morgan Stanley grew its stake in International Business Machines by 22.8% during the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after buying an additional 3,084,458 shares during the last quarter. Geode Capital Management LLC grew its stake in International Business Machines by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 16,209,322 shares of the technology company’s stock worth $2,120,034,000 after buying an additional 235,143 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in International Business Machines by 98,797.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after buying an additional 11,017,849 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in International Business Machines by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,130,808 shares of the technology company’s stock worth $966,020,000 after buying an additional 77,916 shares during the last quarter. 56.16% of the stock is owned by institutional investors.

International Business Machines Stock Performance

NYSE IBM opened at $145.11 on Tuesday. The stock has a market capitalization of $132.20 billion, a price-to-earnings ratio of 67.18, a PEG ratio of 3.71 and a beta of 0.85. International Business Machines Co. has a twelve month low of $115.54 and a twelve month high of $153.21. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.28. The stock has a 50-day moving average of $142.59 and a 200 day moving average of $133.71.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 19th. The technology company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.18. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The business had revenue of $15.48 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. Sell-side analysts anticipate that International Business Machines Co. will post 9.43 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a dividend of $1.66 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.58%. International Business Machines’s payout ratio is currently 307.41%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Morgan Stanley reiterated an “equal weight” rating and set a $135.00 price target on shares of International Business Machines in a research note on Thursday, July 20th. Wedbush reiterated a “neutral” rating and set a $140.00 price target on shares of International Business Machines in a research note on Thursday, July 20th. Finally, Bank of America boosted their price target on International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $142.91.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.