International Business Machines Co. (NYSE:IBM) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,100 shares of the technology company’s stock after selling 445 shares during the period. International Business Machines comprises 1.9% of Hourglass Capital LLC’s investment portfolio, making the stock its 22nd biggest holding. Hourglass Capital LLC’s holdings in International Business Machines were worth $6,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares in the last quarter. Legal & General Group Plc grew its holdings in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after acquiring an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after acquiring an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in International Business Machines by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after acquiring an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 0.0 %

Shares of International Business Machines stock opened at $210.91 on Thursday. The company has a market cap of $195.02 billion, a P/E ratio of 30.70, a PEG ratio of 4.74 and a beta of 0.71. 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 Co. has a one year low of $149.05 and a one year high of $237.37. The firm has a fifty day moving average of $218.44 and a two-hundred day moving average of $192.98.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during 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%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 EPS. On average, analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

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

Analyst Ratings Changes

IBM has been the subject of several research analyst reports. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. BMO Capital Markets upped their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Bank of America upped their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus upped their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three equities 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. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $208.12.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

About International Business Machines

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.