Sompo Asset Management Co. Ltd. Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Sompo Asset Management Co. Ltd. decreased its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 27.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,112 shares of the technology company's stock after selling 3,110 shares during the period. Sompo Asset Management Co. Ltd.'s holdings in International Business Machines were worth $1,793,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ellenbecker Investment Group increased its stake in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock worth $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC grew its position 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 valued at $269,000 after purchasing an additional 47 shares in the last quarter. Vertex Planning Partners LLC raised its position in shares of International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company's stock worth $298,000 after buying an additional 47 shares in the last quarter. Sollinda Capital Management LLC raised its position in shares of International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company's stock worth $301,000 after buying an additional 49 shares in the last quarter. Finally, Lansing Street Advisors raised its stake in International Business Machines by 3.4% in the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company's stock valued at $332,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Up 0.3 %

International Business Machines stock traded up $0.57 during trading hours on Friday, reaching $222.97. 5,320,740 shares of the company's stock traded hands, compared to its average volume of 4,315,075. 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 fifty-two week low of $153.92 and a fifty-two week high of $237.37. The firm has a market capitalization of $206.17 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 4.99 and a beta of 0.71. The firm's 50 day moving average is $219.45 and its 200-day moving average is $195.57.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (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 the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm's revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. 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 payout ratio is 97.23%.

Analyst Ratings Changes

A number of research firms have recently weighed in on IBM. BMO Capital Markets increased 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 lifted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Stifel Nicolaus boosted their price target on International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, DZ Bank downgraded International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $208.12.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 25,390 shares of the company's stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company's stock.

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.