International Business Machines Co. (NYSE:IBM) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its holdings in International Business Machines Co. (NYSE:IBM) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,946 shares of the technology company’s stock after selling 639 shares during the period. Valley Wealth Managers Inc.’s holdings in International Business Machines were worth $5,073,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IBM. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the 1st quarter worth $28,000. 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 valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC bought a new position in shares of International Business Machines in the 3rd quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines during the 2nd quarter worth $36,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $1.14 during trading on Friday, hitting $207.85. 315,109 shares of the company were exchanged, compared to its average volume of 4,220,661. The stock has a 50 day moving average of $218.70 and a 200 day moving average of $193.22. 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 52-week low of $152.13 and a 52-week high of $237.37. The company has a market cap of $192.19 billion, a PE ratio of 30.28, a P/E/G ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results 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 firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. As a group, equities research analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Wall Street Analyst Weigh In

Several analysts recently commented on IBM shares. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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 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 completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

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.