Advisors Asset Management Inc. Sells 8,070 Shares of International Business Machines Co. (NYSE:IBM)

Advisors Asset Management Inc. trimmed its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 236,628 shares of the technology company's stock after selling 8,070 shares during the quarter. International Business Machines makes up 1.0% of Advisors Asset Management Inc.'s portfolio, making the stock its 11th biggest holding. Advisors Asset Management Inc.'s holdings in International Business Machines were worth $52,314,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bernstein Bank increased their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a research report on Thursday, October 3rd. Morgan Stanley reduced their price target on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a research report on Thursday, October 24th. StockNews.com lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday. Hsbc Global Res raised shares of International Business Machines to a "moderate sell" rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group raised their price objective 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $208.12.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business's stock in a transaction dated Friday, November 8th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company's stock.

International Business Machines Trading Up 2.1 %

Shares of NYSE:IBM traded up $4.36 during midday trading on Wednesday, reaching $214.61. The company had a trading volume of 4,562,210 shares, compared to its average volume of 4,228,829. 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 1-year low of $153.51 and a 1-year high of $237.37. The firm has a market cap of $198.44 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The company has a fifty day simple moving average of $218.98 and a two-hundred day simple moving average of $194.50.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 return on equity of 40.52% and a net margin of 10.22%. The business's quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $2.20 EPS. Research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.11%. International Business Machines's payout ratio is 97.23%.

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.