Round Hill Asset Management Sells 10,171 Shares of International Business Machines Co. (NYSE:IBM)

Round Hill Asset Management lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 64.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,504 shares of the technology company’s stock after selling 10,171 shares during the period. Round Hill Asset Management’s holdings in International Business Machines were worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Ellenbecker Investment Group increased its position in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC lifted its holdings in shares of International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the last quarter. Vertex Planning Partners LLC grew its position in International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after acquiring an additional 47 shares in the last quarter. Sollinda Capital Management LLC increased its stake in International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after acquiring an additional 49 shares during the last quarter. Finally, Lansing Street Advisors raised its position in International Business Machines by 3.4% during the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Trading Up 0.3 %

IBM opened at $222.97 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 52 week low of $153.92 and a 52 week high of $237.37. The stock has a market cap of $206.17 billion, a PE ratio of 32.46, a PEG ratio of 4.99 and a beta of 0.71. The business has a 50 day moving average of $219.45 and a 200-day moving average of $195.39.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business 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%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 earnings per share. Equities research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.

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.