International Business Machines Co. (NYSE:IBM) Stock Holdings Lowered by Harmony Asset Management LLC

Harmony Asset Management LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,224 shares of the technology company’s stock after selling 460 shares during the quarter. Harmony Asset Management LLC’s holdings in International Business Machines were worth $713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC raised its holdings in International Business Machines by 9.6% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 10,947 shares of the technology company’s stock worth $1,893,000 after buying an additional 955 shares during the period. Arden Trust Co lifted its holdings in International Business Machines by 10.4% in the 2nd quarter. Arden Trust Co now owns 2,178 shares of the technology company’s stock valued at $377,000 after purchasing an additional 205 shares in the last quarter. Apella Capital LLC boosted its holdings in shares of International Business Machines by 78.6% in the 2nd quarter. Apella Capital LLC now owns 4,132 shares of the technology company’s stock valued at $729,000 after buying an additional 1,818 shares in the last quarter. CVA Family Office LLC raised its holdings in International Business Machines by 3.3% during the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the last quarter. Finally, Fiduciary Alliance LLC purchased a new stake in International Business Machines during the second quarter worth approximately $294,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction 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. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Down 0.0 %

IBM stock opened at $227.40 on Tuesday. The company has a fifty day moving average of $220.63 and a 200-day moving average of $197.69. The stock has a market capitalization of $210.27 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 5.11 and a beta of 0.73. International Business Machines Co. has a one year low of $157.88 and a one year high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Analysts Set New Price Targets

Several brokerages recently commented on IBM. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. The Goldman Sachs Group raised their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley reduced their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Bernstein Bank increased their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Company 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.