Round Hill Asset Management Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Round Hill Asset Management reduced its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 64.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ellenbecker Investment Group increased its holdings in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock valued at $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC increased its holdings in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock valued at $269,000 after buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC increased its holdings in International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company's stock valued at $298,000 after buying an additional 47 shares during the last quarter. Sollinda Capital Management LLC increased its holdings in 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 valued at $301,000 after buying an additional 49 shares during the last quarter. Finally, Lansing Street Advisors increased its stake in shares of International Business Machines by 3.4% in the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company's stock worth $332,000 after purchasing an additional 49 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IBM shares. DZ Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Morgan Stanley reduced their price objective on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. StockNews.com cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, BMO Capital Markets raised their target price on shares of 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. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and an average target price of $208.12.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm'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 transaction, the senior vice president now owns 25,390 shares of the company's stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Trading Up 0.3 %

Shares of International Business Machines stock traded up $0.57 during trading on Friday, hitting $222.97. The stock had a trading volume of 5,320,740 shares, compared to its average volume of 4,315,075. The firm's fifty day simple moving average is $219.45 and its 200-day simple moving average is $195.57. 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 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 $153.92 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM - Get Free Report) last released its 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 firm had revenue of $14.97 billion during the quarter, compared to analyst estimates 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 was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $2.20 EPS. As a group, sell-side analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines's dividend payout ratio is presently 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.