Hennessy Advisors Inc. Sells 3,556 Shares of International Business Machines Co. (NYSE:IBM)

Hennessy Advisors Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 6.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,792 shares of the technology company's stock after selling 3,556 shares during the period. Hennessy Advisors Inc.'s holdings in International Business Machines were worth $11,166,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of International Business Machines by 13.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 77,189 shares of the technology company's stock valued at $13,350,000 after purchasing an additional 9,155 shares during the period. Wealth Alliance lifted its position in shares of International Business Machines by 4.3% during the second quarter. Wealth Alliance now owns 5,945 shares of the technology company's stock worth $1,028,000 after acquiring an additional 245 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of International Business Machines by 3.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 199,859 shares of the technology company's stock worth $33,213,000 after acquiring an additional 6,885 shares during the period. Seven Eight Capital LP bought a new stake in shares of International Business Machines during the 2nd quarter valued at $1,305,000. Finally, Marathon Trading Investment Management LLC bought a new position in International Business Machines in the 2nd quarter worth about $398,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business's stock in a transaction that occurred 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 approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company's stock.

International Business Machines Trading Up 0.9 %

NYSE IBM traded up $2.07 during trading on Friday, hitting $224.73. 3,669,380 shares of the company's stock traded hands, compared to its average volume of 3,244,383. The firm has a market cap of $207.80 billion, a P/E ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74. The stock has a fifty day moving average of $222.65 and a two-hundred day moving average of $210.31. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35.

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 (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The business 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%. International Business Machines's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $2.20 EPS. As a group, sell-side analysts expect that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.97%. International Business Machines's payout ratio is currently 97.23%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. DZ Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their price target on International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a report on Monday, October 21st. StockNews.com downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Two investment 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $215.81.

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.