United Services Automobile Association Sells 4,576 Shares of International Business Machines Co. (NYSE:IBM)

United Services Automobile Association lowered its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 17.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,163 shares of the technology company's stock after selling 4,576 shares during the period. United Services Automobile Association's holdings in International Business Machines were worth $4,679,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Insigneo Advisory Services LLC lifted its position in shares of International Business Machines by 6.8% during the third quarter. Insigneo Advisory Services LLC now owns 10,033 shares of the technology company's stock worth $2,218,000 after purchasing an additional 640 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in International Business Machines by 58.8% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 101,656 shares of the technology company's stock worth $22,474,000 after buying an additional 37,654 shares during the period. Wellington Management Group LLP lifted its holdings in International Business Machines by 5.0% in the 3rd quarter. Wellington Management Group LLP now owns 227,815 shares of the technology company's stock worth $50,365,000 after buying an additional 10,862 shares in the last quarter. State Street Corp grew its stake in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of International Business Machines by 0.5% during the third quarter. Stifel Financial Corp now owns 1,922,127 shares of the technology company's stock valued at $424,958,000 after acquiring an additional 9,320 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IBM shares. DZ Bank downgraded International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a research note on Wednesday, September 4th. Morgan Stanley dropped their price target 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. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Three research 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $208.12.

Insider Transactions at International Business Machines

In other 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 transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.07% of the company's stock.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $3.29 during trading hours on Friday, hitting $238.04. The stock had a trading volume of 4,028,430 shares, compared to its average volume of 3,745,022. The stock's fifty day simple moving average is $221.74 and its 200 day simple moving average is $199.67. The firm has a market capitalization of $220.10 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 5.24 and a beta of 0.73. 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 1-year low of $157.88 and a 1-year high of $238.38.

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

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.81%. International Business Machines's dividend payout ratio is presently 97.23%.

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.