Bell Bank Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Bell Bank lowered its stake in International Business Machines Co. (NYSE:IBM) by 16.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,183 shares of the technology company’s stock after selling 9,500 shares during the quarter. International Business Machines accounts for 1.2% of Bell Bank’s portfolio, making the stock its 14th largest position. Bell Bank’s holdings in International Business Machines were worth $10,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the 1st quarter valued at $28,000. Hazlett Burt & Watson Inc. raised its stake 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 buying an additional 116 shares during the period. Hara Capital LLC purchased a new position in shares of International Business Machines during the 3rd quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC raised its stake in 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 acquiring an additional 60 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM opened at $210.91 on Thursday. The business’s 50 day moving average price is $218.44 and its 200-day moving average price is $192.98. International Business Machines Co. has a fifty-two week low of $149.05 and a fifty-two week high of $237.37. The company has a market cap of $195.02 billion, a P/E ratio of 30.70, a P/E/G ratio of 4.74 and a beta of 0.71. 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 (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business 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 business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 earnings per share. Sell-side analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.17%. International Business Machines’s dividend payout ratio is 97.23%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on IBM shares. Morgan Stanley decreased their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group boosted 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. Finally, BMO Capital Markets increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $208.12.

About International Business Machines

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.