Bell Bank Sells 9,500 Shares of International Business Machines Co. (NYSE:IBM)

Bell Bank lessened its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 16.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 47,183 shares of the technology company's stock after selling 9,500 shares during the quarter. International Business Machines comprises approximately 1.2% of Bell Bank's holdings, making the stock its 14th largest position. Bell Bank's holdings in International Business Machines were worth $10,431,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IBM. Ellenbecker Investment Group raised its position in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock valued at $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC raised its position in International Business Machines by 4.0% in the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock valued at $269,000 after purchasing an additional 47 shares during the last quarter. Sollinda Capital Management LLC raised its position in shares of International Business Machines by 3.7% during the third 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 during the last quarter. Lansing Street Advisors raised its position in shares of International Business Machines by 3.4% during the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company's stock worth $332,000 after acquiring an additional 49 shares during the last quarter. Finally, Ascent Wealth Partners LLC raised its position in shares of International Business Machines by 0.7% during the third quarter. Ascent Wealth Partners LLC now owns 7,144 shares of the technology company's stock worth $1,579,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Activity

In other 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a "sell" rating in a research report on Wednesday, September 4th. Morgan Stanley dropped their target price on 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. The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Royal Bank of Canada restated an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $208.12.

International Business Machines Trading Down 1.7 %

NYSE:IBM traded down $3.52 on Thursday, reaching $207.40. The company's stock had a trading volume of 2,561,674 shares, compared to its average volume of 4,220,247. International Business Machines Co. has a 1-year low of $150.40 and a 1-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. The firm has a market cap of $191.77 billion, a PE ratio of 30.13, a PEG ratio of 4.74 and a beta of 0.71. The business's 50-day moving average price is $218.58 and its two-hundred day moving average price is $193.11.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 earnings per share. Equities research analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company 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 is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.22%. International Business Machines's dividend payout ratio (DPR) is 97.23%.

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.