Premier Fund Managers Ltd Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Premier Fund Managers Ltd reduced its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 20.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,080 shares of the technology company's stock after selling 11,940 shares during the quarter. Premier Fund Managers Ltd's holdings in International Business Machines were worth $10,394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its holdings in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines during the 2nd quarter valued at about $36,000. Wolff Wiese Magana LLC increased its position in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company's stock valued at $38,000 after buying an additional 60 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of International Business Machines in the third quarter worth about $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 0.9 %

IBM stock traded up $1.86 on Wednesday, reaching $212.11. The company's stock had a trading volume of 1,172,161 shares, compared to its average volume of 4,213,114. 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 business has a fifty day simple moving average of $218.98 and a two-hundred day simple moving average of $194.50. The firm has a market cap of $196.13 billion, a PE ratio of 30.68, a PEG ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 12-month low of $153.51 and a 12-month high of $237.37.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.08 billion. During the same quarter in the previous year, the company earned $2.20 earnings per share. International Business Machines's quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.15%. International Business Machines's dividend payout ratio is presently 97.23%.

Wall Street Analyst Weigh In

Several analysts have issued reports on IBM shares. Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their price objective 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. BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the stock 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. Finally, Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's 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 sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by insiders.

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.